Why did the Petroleum Products Pricing Committee maintain the current prices of gasoline?

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After the decision of the Committee for the automatic pricing of petroleum products concerned with the follow-up and implementation of mechanisms for the application of automatic pricing of petroleum products on a quarterly basis, which, during its meeting held after the end of last June, decided to recommend fixing the current prices prevailing in the local market, for the quarter of July / September 2020, where it was maintained The selling price of gasoline products of all three types is the same, and the confirmation decisions came for a number of reasons, including that the recommendations of the committee came in light of the exceptional conditions that the world is going through as a result of the negative repercussions of the Corona pandemic on global economic activity, and oil and energy markets, especially during the period April / June 2020, and the occurrence Sharp fluctuations in world oil prices and a near complete cessation of the economic activity of many countries of the world in light of the uncertainty that prevailed in that period .

During the meeting of the automatic pricing committee for petroleum products, the average prices of Brent crude in the world market and exchange rate for the period April / June 2020 were reviewed, which are the most important influencing and determining the cost of making available and selling petroleum products in the domestic market other than the burdens and other costs..

One of the other reasons that led to the Committee maintaining the current prices of gasoline and fixing it is that the Committee reviewed the expectations of all international institutions and global expert houses, which expect a significant increase in the prices of Brent crude during the quarter (July / September 2020), compared to the prices that prevailed In the April / June 2020 quarter, indicating that maintaining the selling prices of petroleum products will contribute to maintaining price stability in the local market and avoiding the impact of large fluctuations in world prices. .

The prices of gasoline and diesel were as follows:

6.25 Pounds per liter of petrol 80

7.50 Pounds a liter of gasoline 92

8.50 Pounds a liter of gasoline 95

The sale price of diesel is 6.75 pounds per liter

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