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Published on Tuesday, July 24, 2018 12:57 PM
News From the City -: Familiarity should reduce the price of petroleum derivatives by 2.5% in price next month, which will be approved next Tuesday.
The price of Brent crude oil and derivatives in world markets since the beginning of this month of 6%, according to the Ministry of Energy and Mineral Resources.
The price of Brent crude was $ 71.35 compared to $ 75.8.
The overall price trend makes it necessary to reduce these prices locally, particularly for octane benzene 90 and 95
Al Fayez believed that the reduction rates for all derivatives varied between 1.5% and 2.5% and that the rate of reduction was greater than the share of gasoline, unless the government decides to achieve returns above the margins of these two types. (19659003). "Changes in the price trend of Brent, which is an indicator in the price equation, or a rise in prices will not have a significant impact on the decline recorded since the beginning of the month", said Fayez. Local prices for all types of gasoline, diesel and kaz have not been increased since May 1
For its part, the secretary of the Association of Station Owners- service and distribution centers VII Hashim Aql, "It is likely to reduce prices next month by badumed rates That the final price of oil derivatives in the world markets will be released tomorrow, indicating that the remaining transactions up to the end of the month will not have any impact on the decline achieved, citing prices in Lebanon, which adjusts prices weekly, When the decline was recorded on the weekly price.
According to the Ministry of Energy, the Brent price hit $ 70.6 a barrel on Tuesday and Wednesday, marking the lowest price this month, further increasing Thursday and Friday to $ 72.16.
On another topic, Saidat said that the demand for petroleum derivatives in this this period was about 5% less than the rate at the same time last year, a reference mainly because of the economic situation affecting citizens in general.
That during the second week of this month Brent crude prices fell 2% from the first week of the same month, dropping from $ 76.4 per barrel to $ 75.4, according to tomorrow.
The price of diesel fell in the second week of this month by 0.62% from the first week and reached a low of $ 634 per ton on Thursday and the highest on Tuesday at $ 668.
The Ministry of Energy and Mineral Resources for the price of petroleum derivatives, the price of diesel for the first week of July of 0.2% and the price of liquefied natural gas increased by 1, 4% compared to June.
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