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The Pricing Committee for Oil Derivatives held its regular meeting, today Wednesday, to announce the fuel prices in effect from the first of next October.
The committee reviewed the prices of oil derivatives during September and compared them with those of August last year, which showed a significant and large increase in the prices of crude oil and oil derivatives, amid ongoing geopolitical tensions in the region and their impact on global markets.
Despite this global increase, and in order to limit its impact on citizens and economic sectors, the committee decided to partially adjust the fuel prices for October, by adjusting the price of gasoline of both types and diesel by (50) fils/liter for each, while keeping the price of kerosene fixed, as follows:
* 90-octane gasoline: 1050 fils/liter
* 95-octane gasoline: 1360 fils/liter
* Diesel: 900 fils/liter
* Kerosene: 550 fils/liter
The price of a household liquefied gas cylinder (12.5 kg) was also fixed at 7 dinars, while continuing to support liquefied petroleum gas allocated to the industrial sector with a subsidy value of up to (1.8) million dinars for October.
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, however, the government, within the framework of the gradual policy it adopted since the beginning of the crisis, the local prices still do not reflect the global prices even with the addition of tax, where the actual costs of oil derivatives in the October pricing were as follows:
- Diesel: 1077.32 fils/liter, and its price is 900 fils/liter.
- Kerosene: 1043.79 fils/liter, and its price is 550 fils/liter.
- 90-octane gasoline: 1111.68 fils/liter, and its price is 1050 fils/liter.
- 95-octane gasoline: 1360.08 fils/liter, and its price is 1360 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 September amounted to about (255) million dinars, due to the increase in global oil derivative costs and the failure to reflect the actual prices in the monthly pricing, in order to alleviate the burden on consumers and the national economy.
The committee pointed out that the decision to gradually adjust prices for October reflects the government's keenness to limit the fluctuations in local fuel prices and provide greater stability for citizens and economic sectors, amid the ongoing state of uncertainty witnessed by global markets due to geopolitical conditions affecting them.
The committee concluded by affirming its commitment to continue assessing the variables in global energy markets and their impact on local costs on a monthly basis, in light of price developments and the geopolitical conditions affecting them, in order to ensure the adoption of appropriate decisions in a timely manner and achieve a balance between protecting citizens and economic sectors and maintaining economic and financial stability.
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