ISLAMABAD: The federal government has increased petrol and high-speed diesel prices, according to a notification issued by the Petroleum Division on Wednesday.
Petrol prices have been raised by Rs 1.85 per litre to Rs 377.91 per litre.
The price of high-speed diesel has increased by Rs 1.75 per litre to Rs 399.82 per litre, the notification said.
Earlier, Oil prices climbed Wednesday as investors weighed the prospect of a prolonged and widening Middle East conflict after Tehran-backed Houthis attacked Saudi Arabia's largest refinery.
International benchmark Brent crude futures rose $1.50, or 1.32%, to $115.59 per barrel, while U.S. West Texas Intermediate crude futures gained $1.47, or 1.47%, to $101.37 per barrel.
The Houthis said Tuesday they had attacked Saudi Arabia's Ras Tanura refinery with a ballistic missile, raising worries of an escalation in the regional conflict.
Trump, meanwhile, said the war with Iran would end on his terms while insisting Tehran must be prevented from acquiring nuclear weapons. Speaking at a campaign rally in Texas on Tuesday, Trump said the conflict could be brought to a swift conclusion but stressed that any agreement must ensure Iran would never possess a nuclear weapon.
His remarks followed earlier comments that he was weighing whether to reach a deal with Tehran or pursue further military action, keeping investors on edge over the possibility of renewed strikes.
Concerns over disruptions to oil flows have kept a geopolitical risk premium embedded in crude prices, with traders closely monitoring developments in the region.
