The government increased the price of petrol by Rs14.92 per litre and raised the rate of high-speed diesel (HSD) by Rs15 per litre.
As per a notification issued by the Petroleum Division, the new price of petrol has been fixed at Rs414.78 per litre, while high-speed diesel will cost Rs414.58 per litre.
Earlier on April 30, the federal government had increased the prices of petrol and high-speed diesel once again.
The increase comes as global oil markets remain unsettled by renewed skirmishes between the United States and Iran and continuing uncertainty surrounding shipping through the Strait of Hormuz, a vital energy corridor through which roughly one-fifth of global oil and liquefied natural gas (LNG) supplies normally pass.
The recent fuel price hikes are expected to add to inflationary pressures in the country, with the rising petrol and diesel costs directly affecting transport fares, electricity generation and food prices.
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