The government on Thursday increased the prices of petrol and high-speed diesel (HSD) by Rs4.40 and Rs3.62 per litre, respectively, passing on the impact of fluctuating global oil prices following renewed hostilities in the Persian Gulf. Following the changes, the price of petrol stands at Rs331.52 per litre, while that of HSD stands at Rs378.66 per litre. The government is charging a total of Rs110 per litre in taxes and duties on petrol and Rs96 on diesel. The Petroleum Division’s notification said the new prices would be applicable on July 24 (Friday). The diesel price has come down from a peak of Rs520.35 recorded on April 3. Its price had started rising from Rs281 per litre after the US-Iran war broke out on February 28. The petrol price had peaked at Rs458.41 on April 3 after beginning its upward trajectory from Rs266 in the first week of March. Earlier, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be fixed on a daily basis due to fluctuations in international market prices ...