Amid the escalating conflict involving Iran and the United States, fuel prices in Pakistan have surged sharply.Pakistan raised consumer prices for petrol and diesel by nearly 20%, citing rising global oil prices triggered by tensions in the Middle East. Petroleum Minister Ali Pervaiz Malik announced the decision in a televised statement.The government set petrol at 335.86 rupees per litre and diesel at 321.17 rupees per litre, sparking panic buying with long queues reported at fuel stations in major cities such as Lahore and Karachi.Pakistan relies heavily on oil imports from Middle Eastern countries including Saudi Arabia and the United Arab Emirates through the strategically important Strait of Hormuz.Meanwhile, tensions in the Gulf intensified after a Bahamas-flagged oil tanker was reportedly targeted by an Iranian remote-controlled explosive boat, further raising concerns over global oil supply and inflation.
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