The Oil Derivatives Pricing Committee at the Ministry of Energy and Mineral Resources held its monthly meeting on Tuesday to determine the local selling prices of oil derivatives for the month of June.

From April to May, prices were raised by 35 fils. 

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) for the month of June by 60 fils/liter, in order to implement the pricing mechanism approved in accordance with the petroleum derivatives pricing equation.

At the end of August 2022, the committee also decided to raise the prices of gasoline (90 octane), diesel and kerosene next June by 35 fils/liter, in order to implement the approved pricing mechanism according to the petroleum derivatives pricing equation by the end of 2022.

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.

It is noteworthy that the average price of Brent crude rose to 112.70 dollars per barrel in the current month of May, compared to 104.4 dollars per barrel recorded in April.