Government expected to keep fuel prices unchanged next month: expert
Energy expert Hashem Aqel expected that the government is likely to keep fuel prices unchanged for next month, maintaining the same levels as the current month, despite a global decline in Brent crude prices.
Speaking to 'Ammon News' on Saturday, Aqel explained that local petroleum product prices are still lower than global prices due to government support provided over the past months.
He noted that for international Brent crude price drops to reflect in the local market, it typically requires at least 2–4 weeks based on the global pricing formula.
Aqel also pointed out that oil refineries usually hold stockpiles purchased at higher prices, which delays the impact of any global price decreases.
The government has previously stated that it continues to support fuel prices domestically in order to ease the economic burden on citizens, amid rising global prices caused by geopolitical tensions involving the United States, Israel, and Iran.
Energy expert Hashem Aqel expected that the government is likely to keep fuel prices unchanged for next month, maintaining the same levels as the current month, despite a global decline in Brent crude prices.
Speaking to 'Ammon News' on Saturday, Aqel explained that local petroleum product prices are still lower than global prices due to government support provided over the past months.
He noted that for international Brent crude price drops to reflect in the local market, it typically requires at least 2–4 weeks based on the global pricing formula.
Aqel also pointed out that oil refineries usually hold stockpiles purchased at higher prices, which delays the impact of any global price decreases.
The government has previously stated that it continues to support fuel prices domestically in order to ease the economic burden on citizens, amid rising global prices caused by geopolitical tensions involving the United States, Israel, and Iran.
Energy expert Hashem Aqel expected that the government is likely to keep fuel prices unchanged for next month, maintaining the same levels as the current month, despite a global decline in Brent crude prices.
Speaking to 'Ammon News' on Saturday, Aqel explained that local petroleum product prices are still lower than global prices due to government support provided over the past months.
He noted that for international Brent crude price drops to reflect in the local market, it typically requires at least 2–4 weeks based on the global pricing formula.
Aqel also pointed out that oil refineries usually hold stockpiles purchased at higher prices, which delays the impact of any global price decreases.
The government has previously stated that it continues to support fuel prices domestically in order to ease the economic burden on citizens, amid rising global prices caused by geopolitical tensions involving the United States, Israel, and Iran.
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Government expected to keep fuel prices unchanged next month: expert
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