Pakistan announced a further increase in petrol and high-speed diesel prices Tuesday, the finance ministry said in a statement, the second hike in a month.

The price of petrol would be raised by 17.50 Pakistani rupees to 290.45 rupees per litre effective Aug. 16, the ministry said in a post on X, formerly known as Twitter.

High-speed diesel will now cost 293.40 rupees per litre after an increase of 20 rupees.

Earlier this month, the country increased petrol and diesel prices to meet fiscal objectives laid down in a deal with the International Monetary Fund (IMF), compounding sky-high inflation.

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