Khaberni - The Oil Derivatives Pricing Committee held its regular meeting today, Thursday, reviewed the oil derivatives prices during the month of April and compared them with those of the previous March, which showed a continuation of rises in global prices driven by regional developments.
In line with the government's policy of gradually reflecting global price increases of oil derivatives, aimed at containing these increases and minimizing their direct effects on citizens and economic sectors, the committee decided to adjust the local selling prices of oil derivatives for the month of May partially, which does not reflect the actual global price costs.
The committee confirmed that the government continued the approach it followed during the past month and since the beginning of the regional crisis, where the full global price increases were not reflected on the local prices, but only partly.
The committee also indicated that the government bore direct subsidies on the pricing for May of about 68 million dinars, in addition to about 2.9 million dinars directed specifically towards the industrial sector, as part of supporting the stability of the local market and productive sectors.
The committee pointed out that the average Brent crude price rose to $120 per barrel in April compared with $102 per barrel in last March, with an increase rate of about (17%).
According to the decision:
The price of the domestic gas cylinder (12.5 kg) was fixed at 7 dinars without any change, while continuing to subsidize it despite the global increases.
The price of kerosene was fixed at 550 fils/liter without any increase.
Whereas other oil derivatives prices became as follows:
Octane 90 gasoline: 1000 fils/liter
Octane 95 gasoline: 1310 fils/liter
Diesel: 790 fils/liter
The committee also pointed out that the actual cost of the domestic gas cylinder (12.5 kg) was 12.22 dinars, while its selling price was fixed at 7 dinars.
The committee explained that the actual costs of oil derivatives for May were:
1061.3 fils/liter for Octane 90 gasoline
1147.27 fils/liter for Diesel
1128.89 fils/liter for Kerosene
The committee noted that the government did not reflect the full increase on domestic prices, where it only reflected about:
Approximately 60% of the actual increase on Octane 90 gasoline
And about 16% of the actual increase on Diesel
While the price of kerosene was fixed and the increase was completely contained without reflecting any increase on the citizens.
The committee emphasized that this decision comes in the context of achieving a balance between the actual costs and local prices, in line with government policies aimed at mitigating the effects of global price fluctuations, with the continuation of gradually compensating cost differences.
