Pakistan, Aug. 4 -- The government on Monday slashed the prices of petrol and high-speed diesel (HSD) by Rs4.08 and Rs2.45 per litre, respectively, passing on the impact of falling oil prices after US President Donald Trump called off a planned attack on Iran a day prior.

Following the revision, petrol will retail at Rs331.95 per litre, while HSD will cost Rs389.93 per litre. The government continues to levy Rs110 per litre in taxes and duties on petrol and Rs96 per litre on diesel.

The Petroleum Division's notification said the new prices would be applicable for August 4 (Tuesday).

US stocks rallied to the edge of their all-time high on Monday after easing oil prices helped calm Wall Street's worries that inflation could get even wors...