The government has increased petrol prices by Rs5.44 and diesel by Rs31.05 per litre effective immediately for the next three days, citing higher import premiums and global prices due to renewed US-Iran tensions.Petrol now costs Rs316.15 per litre while HSD is at Rs354.35.

The Petroleum Division announced the price hike would take effect from July 18, following a decision by Petroleum Minister Ali Pervaiz Malik to shift to daily fuel pricing based on international market trends.This marks a departure from previous weekly revisions since March, as global conflicts in the Middle East continue to disrupt oil supplies.The move comes after diesel prices dropped from a peak of Rs520.35 in April but began rising again post-US-Iran war.Critics, including the All Pakistan Dealers Association, have rejected daily pricing, warning of potential protests.Fuel price changes significantly impact middle and lower-middle classes using petrol, while diesel affects heavy transport and power plants.Monthly sales of petrol and HSD reach 700,000-800,000 tonnes, far exceeding kerosene demand.The government also faces criticism for not fully addressing fuel affordability despite subsidies and targeted relief measures.