Just when the price hike in the petroleum products was expected, the Government of Pakistan slashed the prices by up to PKR 3.
In a press conference on Friday, 30th November 2018, the Finance Minister of Pakistan, Asad Umar, has announced the new rates of oil products, which are as follow:
| Old prices | New prices | Decrease | |
| Petrol | PKR 97.83 per liter | PKR 95.83 per liter | PKR 2 per liter |
| High-speed Diesel | PKR 112.94 per liter | PKR 110.94 per liter | PKR 2 per liter |
| Kerosene oil | PKR 86.50 per liter | PKR 83.50 per liter | PKR 3 per liter |
| Light-speed diesel | PKR 82.44 per liter | PKR 77.44 per liter | PKR 5 per liter |
The new prices will come into effect from 1st of December.
Earlier it was being reported that the government will surge the prices due to a pressure coming from International Monetary Fund (IMF), but following the reduced petroleum products’ prices internationally, the govt decided to cut down on the prices here as well. Note that the government has set the 8% sales tax on petrol.
Stay tuned to PakWheels.com for the latest update.
