Petroleum Minister Ali Pervaiz Malik announced on Thursday that the price of petrol was being raised to Rs458.4 per litre and that of high-speed diesel (HSD) to Rs520.35 per litre. He made the announcement while addressing a press conference alongside Finance Minister Muhammad Aurangzeb. Breakup of the new petrol prices Soon after his announcement, the energy ministry also notified the new prices, with petrol’s price being raised by Rs137.24 per litre and diesel’s by Rs184.49 per litre. The government also increased kerosene prices by Rs34.08 per litre to Rs457.80 per litre. Malik said the new prices would be effective from Friday. The latest hike comes amid a global fuel crisis resulting from the US-Israeli war on Iran, which began on February 28. It was announced around a week after Prime Minister Shehbaz Sharif said he had rejected a third recommendation for an increase of Rs95 per litre in the price of petrol and Rs203 per litre in that of HSD since the war began. Previously, the PM said he had rejected a...