Islamabad- Finance Minister Ishaq Dar today announced an increase in the prices of petroleum products by Rs 3.50 per litre.

“We have increased the prices of petrol by Rs 3.50 per litre despite receiving a summary from Oil and Gas Regulatory Authority to raise the petrol prices by Rs 6.19 per litre,” Dar said while addressing a press conference in Islamabad.

Prime Minister Nawaz Sharif has also announced a Rs 60 million subsidy to support the petroleum consumers. With the change in prices, petrol will be sold at Rs 77.79 per litre.

The new fuel prices will come into effect from June 1.