On Thursday, Pakistan's government announced significant increases in fuel prices, with petrol rising by 42.7% to 458.40 Pakistani rupees (approximately $1.64) per litre and diesel by 54.9% to 520.35 rupees (around $1.86). Petroleum Minister Ali Pervaiz Malik explained that the decision was made in light of soaring global energy prices, largely driven by the ongoing US-Iran war that began on February 28. This conflict has disrupted oil supplies, particularly affecting the Strait of Hormuz, a crucial shipping route for energy supplies. The government has previously raised fuel prices by 20% on March 6 due to the crisis. To mitigate the impact of higher fuel costs, Pakistan has introduced various austerity measures, including a four-day work week for government offices and extended school holidays. The International Monetary Fund has cautioned that countries like Pakistan are facing compounded challenges from rising energy prices and supply chain disruptions, which could further strain their economies.