The price of petrol has increased by Rs1.71 to Rs119.8 per litre, while the price of diesel remained unchanged, as per the recommendation of the Oil and Gas Regulatory Authority (OGRA).

Moreover, the price for Kerosene (KSO) also increased by Rs0.35 per litre, while price for High Speed Diesel (HSD) and Light Diesel Oil remained at Rs.116.53 and Rs.84.67 per litre, respectively.

These new prices will be applicable from August 1.

Pakistan revises petroleum prices every 15 days owing to the change in global oil prices. OGRA submits its proposals to the prime minister who then decides on the summary.

Meanwhile, Special Assistant to the Prime Minister on Political Affairs Shahbaz Gill also tweeted about the recent change in petrol prices. He claimed that the petrol price in 27 countries was lower than that in Pakistan, while 140 countries had higher petrol prices.

"The average price of petrol in the world is $1.19 per liter but the price of petrol in Pakistan is $0.72 per liter," Shahbaz Gill tweeted.