Stopping the import of gasoline and diesel due to the increase in the local production and the low consumption

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Sources in the oil sector revealed that the import of gasoline and diesel from abroad has been temporarily suspended, pointing out that the stocks and quantities are sufficient for long periods.

The sources added in special statements to “The Seventh Day” that stopping the import of gasoline came after the decrease in consumption resulting from the embargo measures to combat the emerging Corona virus and increase the production of gasoline and diesel locally.

The sources added that the precautionary measures taken by the country to confront the new Corona virus, reduce the movement of people and implement the ban periods, led to a decrease in gasoline consumption rates by about 25%.

The sources indicated that the current consumption rates for gasoline amounted to about 14 thousand tons per day, explaining that the natural rates of consumption reach about 18 thousand tons per day.

The sources also revealed that the daily average consumption of diesel decreased by 8 to 10%, pointing out that the current consumption rates of diesel reached about 33 thousand tons per day.

The sources added that the decline rates came as a result of applying precautionary measures to confront the emerging Corona virus and reduce the movement of people on the roads.

The automatic pricing committee for petroleum products, concerned with reviewing and setting the selling prices of some petroleum products on a quarterly basis and applying the announced price equation, the committee met and 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 and the criteria announced for the work of the committee require that prices be adjusted up and down with a maximum of 10% only to protect consumers and the state 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 world 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, and accordingly, it has been decided to amend the sale price of all types 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.

As of 8 am on Saturday, April 11, 2020, with the remainder and unchanging the rest of the prices of petroleum products.



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