Pakistan, June 14 -- The government announced that petrol and diesel prices will rise starting June 16 due to a sharp surge in global oil prices. This increase follows recent missile exchanges between Israel and Iran, which have unsettled oil markets worldwide. The ex-depot price of high-speed diesel (HSD) may increase by about Rs 5 per litre, affecting transport and agriculture sectors.

Currently, petrol costs Rs 252.63 per litre, and HSD is priced at Rs 254.64 per litre at the ex-depot level. The rise in fuel prices is expected to add pressure on inflation, especially in food and transportation. Diesel prices heavily influence the cost of moving goods, which could make everyday items more expensive.

Although petroleum products are exe...