Pakistan's government has raised petrol prices by Rs4.93 per litre and diesel by Rs7.15 per litre, effective Wednesday, bringing petrol to Rs320.73 and high-speed diesel to Rs367.21 — part of ongoing weekly adjustments tied to volatile global oil markets following renewed US-Iran hostilities in the Persian Gulf. The hike coincides with a government decision to shift fuel price-setting from weekly to daily revisions, to be managed by the Oil and Gas Regulatory Authority (Ogra), Pakistan's petroleum sector regulator. The All Pakistan Petrol Pumps Owners Association rejected the new mechanism as unworkable and, after talks with Petroleum Minister Ali Pervaiz Malik broke down, announced an indefinite nationwide strike from Wednesday midnight, potentially shutting around 15,000 petrol stations across the country.