India, March 7 -- In a major overnight decision, Pakistan government has increased petrol and high-speed diesel prices by PKR 55 per litre each, said to be the highest-ever hike. This comes amid supply disruptions due to the ongoing Middle East conflict, sparked by US-Israel strikes on Iran last Saturday and escalated by latter's retaliation.

Addressing a press conference just before midnight, petroleum minister Ali Pervaiz Malik, deputy prime minister and foreign minister Ishaq Dar along with finance minister Muhammad Aurangzeb announced the hike with the assurance that the country has sufficient petroleum reserves, reported Pakistani news portal The Dawn. Track latest in US-Iran 'war' here

With the increase in fuel rates, the ex-depot...