The government adjusts fuel prices for the next month

The Oil Derivatives Pricing Committee held its regular meeting today, Saturday, to announce the fuel prices effective from the first of next November.

The committee reviewed the prices of oil derivatives during October and compared them with those of previous months, amid ongoing geopolitical tensions in the region and their impact on global markets.

Continuing the gradual policy adopted by the government since the beginning of the crisis, aiming to limit the impact of global increases on local prices and alleviate the burden on citizens and economic sectors, the committee decided the following:
• To continue fixing the diesel price at (900) fils/liter.
• To continue fixing the kerosene price at (550) fils/liter.

. Adjusting the price of 90-octane gasoline by (30) fils/liter, to become (1080) fils/liter instead of (1050) fils/liter.
• Adjusting the price of 95-octane gasoline by (15) fils/liter, to become (1375) fils/liter instead of (1360) fils/liter.

• Fixing the price of a domestic liquefied petroleum gas cylinder (12.5 kg) at (7) dinars.
Continuing to subsidize liquefied petroleum gas for the industrial sector up to (2.4) million dinars for November.

The committee confirmed that the local pricing of oil derivatives is based on the monthly average of global prices during the thirty days preceding the pricing day, but the government continues to bear a significant portion of the differences between the actual costs and local selling prices, where the expected actual costs as of the available data to date are:
• 90-octane gasoline: (1132.1) fils/liter, while it is priced at (1080) fils/liter.
• Diesel: (1034.3) fils/liter, while its price is fixed at (900) fils/liter.
• Kerosene: (1047.8) fils/liter, while its price is fixed at (550) fils/liter.

The committee explained that the total support and price differences borne by the government since the beginning of the crisis until the end of October amounted to about (290) million dinars, due to the rise in global oil derivatives costs and not fully reflecting them on the local price, in order to alleviate the burden on citizens and economic sectors.

The committee pointed out that the continuation of fixing diesel and kerosene prices reflects the government's keenness to alleviate the financial burden on citizens and economic sectors, especially given the importance of these derivatives in the transport, production, and heating sectors.

The committee confirmed that the decision to gradually adjust the prices of oil derivatives comes within the framework of the government's keenness to limit fluctuations in local fuel prices and provide greater stability for citizens and economic sectors.

The committee concluded by emphasizing the continuation of evaluating the variables in global energy markets and their impact on local costs on a monthly basis, in light of price developments and geopolitical conditions affecting them, to ensure the adoption of appropriate decisions in a timely manner and to achieve a balance between protecting citizens and economic sectors and maintaining economic and financial stability.