Despite the relative decline in global prices of petroleum derivatives during the month of June compared to last month, this decline was not sufficient for prices to return to their levels that prevailed before the regional crisis.
Accordingly, the Petroleum Derivatives Pricing Committee decided to fix the prices of the main petroleum derivatives for the month of July at the same levels approved in the pricing for the month of June, where the price of gasoline octane 90 was fixed at 1000 fils/liter, gasoline octane 95 at 1310 fils/liter, diesel at 850 fils/liter, and kerosene at 550 fils/liter.
The committee also decided to fix the price of a domestic gas cylinder (12.5 kg) at 7 dinars, and to continue supporting liquefied petroleum gas allocated to the industrial sector.
The local prices of oil derivatives during the past months did not reflect the actual costs of oil derivatives, as the government followed a gradual policy in reflecting the global increases and bore a large portion of the price differences.
The declines witnessed in the global oil derivatives markets began during the second half of June, while local oil derivatives prices for the month of July reflect the average global prices of oil derivatives during the entire month of June.
The decision to continue subsidizing liquefied petroleum gas allocated to the industrial sector results in the government bearing a subsidy estimated at approximately 3.2 million dinars during the month of July.
The total support and price differences borne by the government from the beginning of the crisis until the end of June amounted to about 198 million dinars, without counting the cost of subsidizing household gas cylinders.
The gradual policy and bearing part of the actual costs during the past months contributed to limiting the transmission of the full impact of the rise in global prices to the local market, and alleviating the living and economic burdens on citizens and productive sectors.
The government continues to monitor developments in global markets and the prices of oil derivatives on an ongoing basis, ensuring that appropriate decisions are taken at the appropriate time, and in a way that achieves a balance between protecting citizens and economic sectors and maintaining economic and financial stability.
The Petroleum Derivatives Pricing Committee held its regular meeting, today, Tuesday, to announce the fuel prices in effect as of the first of next July.
The committee reviewed the prices of petroleum derivatives during the month of June and compared them with those of last May, which showed a relative decline in global prices, but this decline was not sufficient for prices to return to their levels prevailing before the regional crisis.
Accordingly, the Petroleum Derivatives Pricing Committee decided to fix the prices of the main oil derivatives for the month of July at the same levels approved in the pricing for the month of June, as follows:
* Gasoline octane 90: 1000 fils/litre
* Gasoline octane 95: 1310 fils/litre
* Diesel: 850 fils/litre
* Kerosene: 550 fils/litre
The committee also decided to fix the price of a domestic gas cylinder (12.5 kg) at 7 dinars, while continuing to support liquefied petroleum gas allocated to the industrial sector. The committee indicated that the decision to continue to support liquefied petroleum gas allocated to the industrial sector will result in the government bearing subsidies estimated at approximately 3.2 million dinars during the month of July.
The committee confirmed that the local prices of petroleum derivatives during the past months did not reflect the actual costs, as the government followed a gradual policy to reflect the global rises, and bore a large portion of the price differences, as the total support and price differences that the government bore from the beginning of the crisis until the end of June amounted to about 198 million dinars, and that is without counting the cost of subsidizing household gas cylinders.
