India, April 4 -- Pakistan has drastically hiked fuel prices this week even as the energy crisis continue to reverberate across continents over the ongoing US-Iran war, now in its second month.

Petroleum minister Ali Pervaiz Malik on Thursday raised petrol prices by PKR 137.24 ( Rs.45.6 or $0.49) to PKR 458.4 per litre ( Rs.152.6 or $1.65), a hike of 43 per cent; while diesel prices were raised by PKR 184.49 per litre ( Rs.61.42 or $0.66) to PKR 520.35 per litre ( Rs.173.23 or $1.87), a rise of 55 per cent, the Dawn reported.

Islamabad procures most of its crude oil, 80 per cent to be precise, from Dubai and Oman markets, where oil prices have reached record highs due to the war.

The government also announced a hike of PKR 34, to 457.8...