Imported Russian oil will take time to impact fuel prices, explains Minister of State for Petroleum Musadik Malik.
Minister of State for Petroleum Musadik Malik said that fuel prices will not fall immediately as a result of cheap oil imports from Russia, but will see a gradual decline once oil supplies from Moscow continue. He added that for now the prices will remain the same.
In a pre-recorded video message played at the Pakistan Energy Conference 2023, the minister said “Importing oil from Russia is not [just] a promise. It is not just talk. The ships have arrived in Oman and the supply of cheap Russian oil to Pakistan will start in a week.
Asked whether Pakistan would pursue more Russian imports, he said, “If we can find cheap energy sources today, we will go there.”