Petrol and diesel prices slashed

In a surprise announcement, PM Imran Khan announced that the government is slashing the prices of petrol and diesel. There were rumours of prices of POL products going up at the new month starts; as it has been for many of last months. 

The new prices of petrol and other petroleum products in Pakistan are as follows:

Rs.149.86 per litre
High-speed diesel
Rs.144.15 per litre
Light-speed diesel
Rs.118.31 per litre
Rs.125.56 per litre

Keep in mind that the price of crude oil has surpassed $100 a barrel in the international market. This is as high as it was back in 2014. Besides that, the International Monetary Fund (IMF) has been demanding the Pakistan government to increase the PDL to meet their requirements. This seems like the decrease at this time can ruffle a lot of feathers; nationally and internationally. Current PDL charged by the government on petrol and diesel are Rs.17.92 a litre and Rs.13.30 a litre respectively. 

Considering the Russia-Ukraine conflict, it is expected for the prices of POL products to rise even more in immediate future. How will Pakistan’s government as well as other governments around the world will wave through it, it is safe to say the situation is a little ambiguous right now.

The price of electricity was also slashed. 

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