KARACHI: Pakistan raised petrol prices by Rs4.61 ($0.02) per liter effective today, Tuesday, but cut diesel by Rs1.96 ($0.01), as the US-Iran war and wider Middle East instability continue to disrupt global energy markets.

The revision takes the ex-depot price of petrol to Rs393.75 ($1.42) per liter from Rs389.14 ($1.40), while high-speed diesel will cost Rs422.08 ($1.52), down from Rs424.04 ($1.53), the Ministry of Energy’s Petroleum Division said on Monday.

Pakistan is heavily dependent on imported energy and remains vulnerable to disruptions around the Strait of Hormuz, through which much of its oil supply from Gulf producers travels. The conflict has increased crude prices, shipping costs and insurance premiums, forcing Islamabad to revise domestic fuel rates more frequently.

“The change in price is necessitated by global events,” the Petroleum Division said in its notification.

Petrol is now nearly 48 percent more expensive than on March 1, immediately after the war began, when it cost Rs266.17 ($0.96) per liter. Diesel has risen by about 50 percent from Rs280.86 ($1.01) over the same period.

The government initially moved from fortnightly to weekly fuel revisions after the war erupted in February before introducing daily price adjustments in July as renewed hostilities increased volatility in international markets.

Islamabad has sought to cushion lower-income motorists through a Rs75 billion ($271 million) relief program offering a discount of Rs100 ($0.36) per liter to motorcycle, three-wheeler and small-car owners within monthly consumption limits.

It has also revived fuel-conservation measures, including a 50 percent reduction in allocations for most official vehicles and restrictions on government travel and purchases.

The rising cost of fuel and the government’s continued reliance on petroleum taxation have also triggered political protests. Jamaat-e-Islami, an Islamist opposition party, launched a march from Karachi on Sunday demanding the abolition of the petroleum development levy, with supporters planning to travel toward Islamabad.

The government currently collects around Rs114 ($0.41) per liter in taxes and duties on petrol and Rs100 ($0.36) on diesel.