The government on Tuesday dispelled rumours that it was considering yet another increase in petrol prices.

"Speculation regarding an increase in the prices of petroleum products is absolutely false. The government has not taken any decision regarding a further increase in petrol and diesel prices," said Information Minister Marriyum Aurangzeb.

She urged the media and the public to not pay attention to mere rumours. "There is no shortage of petroleum products in the country. Avoid spreading rumours," she said.

Finance Minister Miftah Ismail also chimed in to rubbish the rumours. He said that there would be no increase in prices today, adding that there was no plan or summary for the this purpose.

"In the pre-budget seminar, I never even spoke about petroleum prices. Channels running these tickers are doing a disservice to their viewers," he said, referring to the speech he gave earlier today at the huddle organised by the government to seek input from stakeholders for the upcoming budget.

On May 26, the government had decided to raise the prices of petroleum products by Rs30 per litre. Days later, the government had increased prices by another Rs30 per litre in a move aimed at reviving the stalled International Monetary Fund (IMF) programme.

Journalists had labelled the move "unacceptable and brutal" while economists had called it an "unavoidable adjustment".

The rise in fuel prices and power tariffs via the removal of subsidies introduced by the PTI government is one of the main prerequisites that the incumbent coalition government needs to meet for the resumption of the $6 billion IMF programme, which has been stalled since April.

A day earlier, Ismail had stated that Pakistan had come out of the financial crisis after the two subsequent hikes in petroleum prices, which meant there was no need to declare an economic emergency.