He added that the repercussions of these developments were clearly evident in global oil and derivatives prices, with Brent crude rising by 14%, while 90 gasoline recorded a 7.5% increase, 95 gasoline by 1.5%, and diesel by 24%.
Aql pointed out that the gap between global and local prices widened noticeably, noting that the global diesel price reached about 1.16 dinars per liter, while it is sold locally at 850 fils, a difference of up to 310 fils per liter borne by the public finance.
He pointed out that the price of a liter of 90 gasoline locally amounts to one dinar, compared to about 1.075 dinars according to the global price, meaning a difference of about 75 fils per liter.
Aql noted that the largest difference appears in the cost of kerosene, which is about 950 fils per liter, compared to a consumer selling price of 550 fils, with the treasury bearing a difference of about 400 fils per liter, equivalent to about 42% of the cost.
He stressed that the challenge facing the government, amid continued global oil price increases, is managing this gap, not canceling subsidies or burdening the citizen with the entire increase at once.
He explained that fully fixing prices for a long period would raise the cost of subsidies on the treasury and accumulate financial differences, while reversing the global increase entirely on local prices would increase pressure on citizens and productive sectors, and raise transportation and production costs.
Aql believed that the policy of gradualism represents a middle option that distributes the impact of the price shock between the treasury and the consumer, and limits the accumulation of large differences that are difficult to deal with later, especially if oil and derivatives prices remain at their high levels.
The government had fixed fuel prices during September at one dinar per liter for 90 gasoline, 1.310 dinars for 95 gasoline, 850 fils for diesel, and 550 fils for kerosene, despite the rise in global price averages.
According to the Oil Derivatives Pricing Committee, the government follows a gradual policy aimed at not passing all global increases to the consumer, while the accumulated differences borne by the treasury reached about 224 million dinars by the end of August
