ISLAMABAD – As distressed Pakistanis are bearing the brunt of skyrocketing prices amid inflation, a breath of fresh air delighted consumers who are likely to get big relief in fuel prices.
The development comes as the cash-strapped nation has placed its first order for discounted Russian crude oil under a deal struck between Islamabad and Kremlin.
Following New Delhi, and Beijing, Islamabad too jumped on the bandwagon to import Moscow’s crude at a cheap rate, a move that will help the country to prop up its revenues. After the arrival of the first consignment, the price of petrol is likely to slash majorly.
Amid the speculations, Information Secretary of Pakistan Petroleum Khawaja Asif Mehmood told media that the price was likely to plunge by Rs100 per litre, and its cost will set below Rs200 – for the first time in recent times.
Mehmood added that that the ship carrying Russian oil is likely to reach the Pakistani port in the third week of this month, and will be processed at the domestic refineries before being available for the public. Delving into details, he mentioned that there were two refineries in Pakistan.
No change in petrol prices for first half of May
Pakistani government cut the price of high-speed diesel (HSD) by Rs5 per litre and light diesel oil (LDO) by Rs10 per litre for the first half.
Meanwhile, the price of petrol remained unchanged, and petrol is available at Rs282 per litre.
