The Automatic Pricing Committee for Petroleum Products published the rates for selling some petroleum products on a quarterly basis on October 22, 2022.
The committee resolved to set the price of selling gasoline products of its three types at $8.00 per litre for gasoline 80, $9.25 per litre for gasoline 92, $10.75 per litre for gasoline 95, and $7.00 per litre for all other gasoline products.
25 pounds are charged for each litre of fuel, and 5000 pounds is the cost of selling a tonne of diesel for use in bakeries and electricity.
The price of diesel reached 5000 pounds per ton for all industries, except for diesel prices supplied to food and electricity industries, which remained fixed at 4600 pounds per ton.
It is noteworthy that a statement released by the Ministry of Petroleum stated that the committee decided to fix the price of selling gasoline products of its three types in the local market after studying the global economic conditions and its impact on the oil market as a result of the effects of the Russian-Ukrainian war that led to the fluctuation of Brent crude prices.
The decision of the last committee stems from its adherence to what was announced in July 2019 to implement the automatic pricing mechanism on some petroleum products, as practised in many nations around the world. The mechanism aims to adjust the prices of selling some petroleum products in the local market to rise and decrease every three months, in accordance with For the development that occurs for the most significant influential and specific to the cost of making a purchase.
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The cost of gasoline and diesel as of today, November 2, is
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