— REUTERSThe federal government on Wednesday increased petrol prices by Rs4.45 while decreasing the price of high-speed diesel (HSD) by Rs2 per litre for August 6. READ: Govt reduces petrol price by Rs3.39, HSD by Rs4.07 for August 5On July 17, the government introduced a daily fuel price review mechanism amid volatility in global oil prices following renewed hostilities in the Middle East. The daily fuel prices are based on a seven-day average of international market rates to align with international standards. Consequently, every increase in international oil prices raises Pakistan's import bill, pressures foreign exchange reserves, and contributes to inflation. Any interruption in these supply chains can immediately increase crude oil prices and freight costs.