The government has increased the prices of petrol and diesel.
The price of petrol has been increased by Rs. 5.77 per litre, bringing the new petrol price to Rs. 331.20 per litre.
The price of diesel has been raised by Rs. 6.47 per litre, with the new diesel price set at Rs. 390.42 per litre.
The Petroleum Division has issued an official notification regarding the revised petrol and diesel prices, effective August 18.
Oil prices rose in the global market as tensions between the US and Iran and hopes for progress in peace talks dwindled.
Investors are increasingly concerned about geopolitical risks as tanker traffic in the Strait of Hormuz slows.
According to reports, Brent crude futures rose by about one percent to $89.40 per barrel on Monday, while Brent was trading at $89.20 per barrel, up 72 cents at 0229 GMT.
Similarly, the price of US crude West Texas Intermediate also rose by 44 cents, after which its price rose to $82.83 per barrel.
