2023-07-31 21:31:28
With the recent rise in global oil prices, the Emirates General Petroleum Corporation announced, through its official account on the “X” platform, the prices of gasoline and diesel for the month of August, which showed an increase in the price of a liter of 98-grade gasoline, from 3 dirhams during this July. To 3.14 dirhams, equivalent to 14 fils, an increase of 4.7%.
Also, the price of 95 petrol increased from 2.89 dirhams per liter during the current month to 3.02 dirhams, an increase of 13 fils, and the price of E-Plus increased by 14 fils, from 2.81 dirhams in July, to 2.95 dirhams. The price of “diesel” diesel increased by 19 fils, from 2.76 dirhams in July, to 2.95 dirhams in August.
In Jordan, gasoline prices, which are scheduled for the new month, have risen once more, recording the second rise during the current year, as the Pricing Committee had previously reduced the price of fuel in the country 6 times during the current year, while raising it once.
The Pricing Committee decided to raise the prices of gasoline in Jordan for the month of August 2023, with values ranging between 25 and 30 fils for gasoline of all kinds, while raising the price of diesel by regarding 40 fils, and fixing the price of kerosene. The new prices will be effective from Tuesday, the first day of the new month.
According to a statement issued by the Jordanian Ministry of Energy, the Petroleum Derivatives Pricing Committee decided to raise the selling price of 90-octane gasoline to (920) fils / liter instead of (895) fils / liter, and to raise the selling price of 95-octane gasoline to (1165) fils / liter instead of From (1135) fils/liter, and raising the selling price of diesel fuel to (715) fils/liter instead of (675) fils/liter.
The committee also decided, during its monthly meeting to determine the prices of selling oil derivatives locally for the period from 1-31 August, to fix the price of kerosene for the month at 620 fils / liter, and to keep the price of a gas cylinder at 7 dinars per cylinder.
The committee reviewed the international prices of crude oil and petroleum derivatives during the month of July and compared them with their counterparts for the month of June. She said that following applying the price equation according to international prices on all oil derivatives, it was found that the price of 90-octane gasoline increased by (25) fils/liter, the price of 95-gasoline increased by (30) fils/liter, and the price of diesel increased by (40) fils/liter. .
The new announcement regarding gasoline prices in the two countries coincides with the movement of oil prices globally, as last week Brent crude exceeded the price of $80 a barrel, for the first time since January 2022, following the voluntary cut caused by some “OPEC +” countries. Foremost among them is Saudi Arabia, as well as the unplanned reduction by some other Arab countries, in pushing prices higher.
And the government in Jordan reduced fuel prices in the country, including gasoline and diesel, during the month of July (2023), by regarding 5 fils for gasoline of all kinds, while reducing diesel “diesel” by regarding 40 fils, while fixing the price of “kerosene” gas, according to What was seen by the specialized energy platform.
The matter was different in Qatar, where fuel prices scheduled for August 2023 witnessed an unexpected decrease, with which the price of gasoline fell for the first time following being fixed for 3 consecutive months.
This decline came despite the rise in oil prices, which are preparing to record their largest monthly gains in more than a year during this July.
Today, Monday, July 31, Qatar Energy Company published, on its Twitter page, the fuel prices in Qatar for the month of August 2023, which includes both diesel and gasoline.
And Qatar Energy, the largest energy company in the country, decided to fix the majority of fuel prices in Qatar for the month of August 2023, while reducing the price of premium gasoline, the most widely used in the country, which is scheduled to start tomorrow, Tuesday, August 1. The company reduced the price of “excellent” 91 petrol to 1.9 riyals, instead of 1.95 riyals.
The process of determining fuel prices in Qatar is carried out by a committee that includes the Qatar Energy Company, and representatives of the Ministries of Energy, Finance, Economy, Industry, Trade and Development Planning. This committee performs fuel pricing on a monthly basis, and decisions regarding fuel prices in Qatar for the month of August were taken as indicated.
According to a survey conducted by the Energy Platform, fuel prices in Qatar are among the lowest among Arab countries, and in the world as well, as gasoline prices are lower than those in the Arab region, with the exception of Egypt, Algeria and Libya.
In Saudi Arabia, during the recent period, the price of gasoline 95 increased, recording 2.14 Saudi riyals per liter.
Aramco updates fuel prices frequently, according to international prices, which is necessarily transmitted to all petrol stations in the Kingdom.
The lowest price of gasoline this year was recorded in Saudi Arabia last March, when the price of a liter of it reached 1.94 riyals, while the price reached its highest level in June, when the price of a liter was 2.33 riyals.
Several Arab countries, including Egypt, Tunisia and Lebanon, expect a rise in fuel prices in the coming period, as the three countries depend on imports to meet a significant part of their needs, while their local currencies have been under great pressure for more than a year.
The three countries entered into arduous negotiations with the International Monetary Fund to obtain funds that would allow them to repair their dilapidated finances and pay off their obligations. The Fund is known for its preference to reduce or cancel fuel subsidies in all countries of the world, regardless of their poor living standards.
One dollar = 3.67 UAE dirhams
One dollar = 3.64 Qatari riyals
One dollar = 3.75 Saudi riyals
Jordanian dinar = 1.40 US dollars
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