Defence Minster Khawaja Asif Mehmood, said after the arrival of Russian oil, Petroleum Prices my be slashed by Rs100 per litre
In an interview with the media, the secretary pointed out that petrol prices should have already gone down in Pakistan, following the reduction in oil prices in the international markets.
He also mentioned that Pakistan has two refineries that can process the incoming oil, while other refineries require some work.
The first batch of Russian oil will reach Pakistan in the third week of May, as a trial.
The first shipment of crude oil will arrive in the last week of May or the first week of June, with Pakistan getting a discount of up to $18 per barrel.
The prospects of reduced petrol prices due to this deal are a promising development for the Pakistani public, who have been struggling with inflation.
Pakistan To Pay For Russian Oil In Yuan, Cargo To Arrive In June
Pakistan will pay for the Russian oil with Chinese Yuan, and the test cargo, which carries 750,000 barrels of crude, is expected to dock in June.
Additionally, a senior official from the Ministry of Energy told the publication that the cargo may also arrive by the end of May.
Sources indicate that the Bank of China may facilitate the transactions.
Also Read: Pakistan To Pay For Russian Oil In Yuan, Cargo To Arrive In June
However, the official declined to disclose specific details about the mode of payment and the exact discount, stating that it is not in the interest of the country.
The seller is also hesitant to make this information public, as other countries buying Russian oil directly from Moscow may react negatively.
