Overview
After a month of cheap petrol speeches and Russian oil hope, the State Minister of Petroleum Products Musadik Malik announced depressed news for no cheap petrol. As per his statement, the prices wouldn’t come down even after the Russian oil reaches Pakistan.
Russian crude was a big hope for citizens to see a reduction in petrol prices. Petrol prices are set o at the highest record. The Ministry has made the citizens wait for a whole month for Russian oil shipment and now they changed the statement. Previously, the government had announced a cheap petrol scheme for motorbikes, rickshaws, and cars up to 800cc. however, it didn’t work either and they covert the citizen’s attention to Russian oil. After a whole month’s wait, the statement really disheartens the citizens.
Ministry Statement
Ministry had not done a long speech on no reduction in petrol prices. Mr.Musadik just told that it is not possible to reduce petrol prices with a single shipment of Russian crude. Prices of petrol may reduce after Pakistan receives multiple shipments from Russia.
Ministry has not disclosed the whole situation of not reducing prices. The statement was very short and to the point delivers. However, it made an uncertain gloomy situation for citizens.
The Fact of High Petrol Prices
High petroleum product prices have made Pakistan’s production situation worst. And made the prices of the goods higher for end users. Meanwhile, the control of fuel rates may reduce the crud of inflation. The dependency on local petrol has made a huge crisis.
Pakistan purchases petrol from the international market and as per the dollar rates petrol becomes expensive every time the rupee devaluates.
Conclusion
Pakistan oil refineries are optimized to handle Saudi Arabi lighter crude. Meanwhile, Russian crude oil will be a big challenge for them. Ministry has not shared the whole situation but it seems there are some internal matters which take time to offer Russian oil to end users. however, it is just an assumption.
