Pakistan, Sept. 2 -- The government on Tuesday increased the prices of petrol and high-speed diesel (HSD) by Rs1.08 and Rs 0.51 per litre, respectively, amid volatility in international oil markets.

Under the revised rates, petrol will now cost Rs 343.87 per litre, while HSD will be priced at Rs 370.92 per litre.

According to the notification, the new fuel prices will be effective for September 2.

Globally, oil prices surged Tuesday after the US military announced further strikes against Iran, deepening inflation concerns and extending an earlier market sell off in stocks and bonds.

US Treasury Secretary Scott Bessent confirmed that the United States intends to "economically asphyxiate" the Iranian regime through an intense campaign o...