India, April 3 -- The Pakistani government sharply increased fuel prices on Thursday, with petrol jumping by a staggering Rs 137 per litre to Rs 458.40 and diesel surging by Rs 184.49 to Rs 520.35 per litre, delivering a massive blow to inflation-weary citizens. The new prices took effect from midnight, Petroleum Minister Ali Pervaiz Malik announced at a press conference alongside Finance Minister Muhammad Aurangzeb.

The hike comes as global oil prices have climbed sharply due to supply disruptions linked to the Iran war and the effective closure of the Strait of Hormuz, which normally carries about 20% of the world's oil.

What Is the New Fuel Price Structure?

At the current currency rate of Rs 0.33 per Pakistani rupee, the new petrol ...