Pakistan raises petrol, diesel prices by nearly Rs15 per litre

The federal government has raised petrol and diesel prices by almost Rs 15 per litre each for the next week. According to a notification issued on Friday by the Petroleum Division, the revised fuel prices will take effect from May 9. With the latest adjustment, petrol has gone up from Rs399.86 to Rs414.78 per litre, while high-speed diesel (HSD) has increased from Rs399.58 to Rs414.58 per litre. This is the third straight weekly hike in fuel prices. Over the past two weeks, petrol has cumulatively risen by Rs33.28 and diesel by Rs46.16 per litre. Authorities have been revising petroleum rates every Friday night in response to fluctuations in the international oil market, largely driven by tensions between the United States and Iran. Global crude prices also climbed by over 1% on Friday after fresh hostilities erupted between the two countries, raising concerns over a fragile ceasefire and uncertainty surrounding the reopening of the Strait of Hormuz, a key global energy shipping route. Pakistan rejects LNG spot bids for May amid Qatar supply hopes