The Oil and Gas Regulatory Authority recommended Rs2.50 per litre increase in the price of high-speed diesel and 50 paisa in the price of petrol on Saturday.
The process summary has been forwarded to the government.
The final approval with regard to revision in prices, however, rests with Prime Minister Imran Khan. The new prices will take effect from August 16.
The price of high-speed diesel and light diesel oil is Rs116.53 and Rs84.67 per litre, respectively.
On July 21, the government had increased the price of petrol which cost Rs119.8 per litre previously it was Rs118.09 per litre.
Pakistan revises petroleum prices every 15 days. OGRA submits its proposals to PM Imran Khan who takes the final decision then.