The Automatic Pricing Committee for Petroleum Products revealed that the price of selling petroleum products in the local market and maintaining the current prices prevailing for the second quarter of 2022, according to a statement from the Ministry of Petroleum today, Saturday.
Prices for gasoline are 8 pounds for gasoline 80, 9.25 pounds for gasoline 92, 10.75 pounds for gasoline 95, and 7 pounds for diesel.
25 pounds are charged every litre, and 5000 pounds are charged to sell a tonne of diesel for use other than electricity and bakeries.
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.
And by studying the global economic conditions and its impact on the oil market as a result of the repercussions of the Russian -Ukrainian war, which led to the fluctuation of Brent crude prices, as well as after reviewing the exchange rate. The committee made the decision to set the price of gasoline products of its three varieties in the neighbourhood market.
Following the decision of the fuel committee, urgent new gasoline prices
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