The federal government has increased the petrol price by Rs3.86 per liter, according to a notification issued by the finance division.
A liter of petrol will now sell for Rs103.97. The price of high speed diesel has been increased by Rs5.00.
The prices of kerosene and light diesel oil have gone up by Rs5.97 and Rs6.62, respectively.
The prices of petroleum products were increased on the recommendation of the ministry of petroleum.
On Thursday, the ministry had proposed to increase the price of high-speed diesel by Rs10 and petrol by Rs6.9 per litre.
The international price of oil has been volatile since the coronavirus pandemic gripped the world. This period also saw a historic low in the international price of oil when it dipped below zero.
In Pakistan, the volatility in international prices of oil turned into an oil crisis as several oil companies stopped selling petrol and long queues were seen at the few pumps where the fuel was available.