The federal government has announced a significant hike in petroleum prices, raising petrol by Rs. 137.23 per litre to Rs. 458.4 and high-speed diesel (HSD) by Rs. 184.49 per litre to Rs. 520.35.

This marks the latest adjustment amid global oil market turbulence, following a period when the government had kept rates steady despite disruptions caused by the Gulf War.

In the last six fuel price reviews, authorities have increased rates in four sessions, reflecting ongoing volatility in the international energy market.