Oil derivatives prices for the month of June 2022
Al Anbat- Diana Al
nobani
The Oil Derivatives
Pricing Committee at the Ministry of Energy and Mineral Resources held its monthly
meeting on Tuesday, May 31, to determine the prices of selling oil derivatives
locally for the period from (1-30 next June), where the international prices of
crude oil and oil derivatives were reviewed during the month of May and
compared to their counterparts for the month of April, Where the difference
between the local prices of oil derivatives, according to the actual cost for
the month of June, and the local prices applied for the current month of May,
is about 250 fils/liter for gasoline (octane 90) and about 270 fils/liter for
gasoline (octane 95), and for diesel and kerosene is about 330 fils/liter.
It is worth noting
that the prices of both types of gasoline remained fixed from the beginning of
last February until the end of last April, when they were raised during the
month of May by 35 fils only, while the prices of diesel and kerosene remained
fixed from the beginning of November 2021 until the end of the month Last April, where it was raised during the
month of May by 35 fils only, despite the great increases that occurred in the
prices of oil derivatives globally, in addition to the significant increase in
import costs as a result of the high costs of shipping and the lack of
supplies, and this led to a large gap In
the local price difference from the global.
However, under the
direction of the government and in line with the policy of gradual lifting of
subsidies on the prices of oil derivatives, the Derivatives Pricing Committee
decided to raise the prices of gasoline (octane 95) next June by only 60 fils /
liter in order to implement the pricing mechanism approved in accordance with
the derivatives pricing equation By the
end of August 2022, the committee decided to raise the prices of gasoline (90
octane), diesel and kerosene next June by 35 fils/liter only, in order to
implement the approved pricing mechanism according to the petroleum derivatives
pricing equation by the end of 2022.
This means the increase in the price of
gasoline (octane 95) for the month of next June constituted (22%) of the actual
cost difference, 14% for gasoline (octane 90) and 11% for diesel and kerosene.
Thus, the selling
price of gasoline (octane 90) in June becomes 920 fils / liter instead of 885
fils / liter, and the price of gasoline (octane 95) becomes 1180 fils / liter
instead of 1120 fils / liter, and the price of diesel and kerosene becomes 685
fils / liter Instead of 650 fils/liter, the gas cylinder price was kept at 7
dinars per cylinder, while its cost amounted to 11 dinars and 85 piasters.
It should be noted
that the average price of Brent crude rose to 112.7 dollars per barrel in the
current month of May, compared to 104.4 dollars per barrel recorded in last
April.