Pakistan’s government announced significant changes to fuel prices on Wednesday, decreasing high-speed diesel (HSD) by Rs32.63 per litre and increasing petrol by Rs2.97 per litre. The new prices will take effect on August 20, setting petrol at Rs337.51 and diesel at Rs363.06 per litre. These adjustments follow negotiations with petroleum refineries and are influenced by international market fluctuations related to tensions between the US and Iran. The price of diesel has notably decreased from a peak of Rs520.35 in April, while petrol peaked at Rs458.41 during the same period. The government maintains substantial taxes on both fuels—Rs114 per litre on petrol and Rs100 on diesel. Fuel prices will now be adjusted daily, a shift from the previous weekly revisions implemented since early March due to concerns over potential oil supply disruptions.