Pakistan, June 16 -- The federal government on Sunday announced an increase in the petrol price by Rs4.80 per litre for the next 15 days, raising it to Rs262.59 from Rs254.64 per litre.

In a notification, the Finance Division said that the new petrol price will take effect from June 16.

The rate for high-speed diesel was also increased by Rs7.95 per litre, raising it to Rs258.43 from Rs253.63 per litre.

In the previous fortnight, the federal government had raised the petrol price by Re1 amid largely stable global oil markets.

Prime Minister Shehbaz Sharif has formed a high-level committee led by the finance minister to monitor any possible economic impact of the escalating conflict between Israel and Iran, a senior government adviser ...