Monday, September 25, 2023

First Shipment of Russian oil Reached Pakistan, Here’s How Much Drop in Petroleum Price is Expected

The transmission of oil from Russia to Pakistan has commenced today, and it is expected to result in a reduction in petroleum product prices ranging from 30 to 40 rupees. According to the Ministry of Petroleum, Russian oil will make petrol cheaper in Pakistan. Russian oil is expected to enter the market within the next two weeks, with the first shipment of 45,000 tons being refined in Pakistan Refinery Limited (PRL). Parco will also be involved in the refining process of Russian oil.

According to sources, the impact of relief from Russian oil could be seen by July 1st, and there is a possibility of a decrease in petroleum product prices by 30 to 40 rupees. The Minister for Energy, Malik, has confirmed that the first vessel from Russia has already been anchored, and it will take three days to unload the ship.

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