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The introduction of new petrol prices into auto supply stations

Today, Saturday morning, the Ministry of Petroleum started implementing the new prices for gasoline at auto supply stations, in accordance with the decision of the Committee for the automatic pricing of petroleum products, which announced the new prices for gasoline and diesel yesterday evening, which will be applied during the second quarter of this year.

The automatic pricing committee for petroleum products, concerned with reviewing and fixing the sale prices of some petroleum products on a quarterly basis and applying the announced price equation, met the committee reviewed the global crude price averages and the exchange rate for the period January / March 2020 compared to the period October / December 2019, taking into account that the price equation The announced standards for the committee’s work require that prices rise and fall with a maximum limit of 10%, to protect consumers and the state’s budget alike.

In light of the unprecedented exceptional circumstances experienced by the global oil markets, as well as the global and local economic conditions as a result of the emerging Corona virus crisis, and with the expectation that the sharp decline in global oil prices will not continue, it was decided to spare part of the savings achieved from cost reduction to meet the expected rise in cost during The coming period as well as facing the increasing burden of facing the consequences of the Corona crisis.

Accordingly, it was decided to amend the price of selling all kinds of gasoline to the final consumer as follows:

Gasoline 95 8.50 pounds per liter

Gasoline 92 7.50 pounds per liter

Gasoline 80 6.25 pounds per liter

– It was also decided to amend the diesel price of the industry to 3900 pounds / ton, stability and not to change the rest of the prices of petroleum products.

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