Pakistan, April 25 -- Prime Minister Shehbaz Sharif on Friday jacked up prices of both high-speed diesel (HSD) and petrol by Rs26.77 per litre despite no increase being required in the rates of petrol.

The premier imposed a nearly Rs27 per litre additional tax on the fuel to push its price higher.

Accordingly, the HSD price has been fixed at Rs380.19 per litre, up from Rs353.42 per litre. This marks a 7.5% increase. Diesel prices are still significantly lower than their peak of Rs520.4 on April 10. Diesel is considered the most inflationary fuel due to its widespread use in freight transportation and the agriculture sector.

The prime minister approved an increase in petrol prices to Rs393.35 per litre, up from Rs366.6. This shows an in...