Delivering a major blow to inflation-weary citizens ahead of Ramazan, the federal government has increased petrol and diesel prices.

According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs5 per litre for the next 15 days, bringing the new price to Rs258.17 per litre.

The price of high-speed diesel (HSD) has also been hiked by Rs7.32 per litre, taking it to Rs275.70 per litre.

The new prices have come into effect from February 16.

The increase was made following the government’s fortnightly review based on recommendations from the Oil and Gas Regulatory Authority (OGRA).

The decision has reversed the price stability seen at the beginning of the year, when rates were maintained after a reduction at the start of the new year.

The effect of the latest hike is likely to be felt severely by common people as the increase in diesel prices will push transport and farming costs up, which in turn will lead to rising food prices.

With the holy month of Ramazan fast approaching, the rise in fuel prices is likely to deepen financial worries for many households.