Fuel prices in Qatar for the month of July 2023 witnessed a stabilization of both types of gasoline and diesel, for the third month in a row, after it had moved the price of premium gasoline for the first time in a year, last April.
Today, Friday, June 30 (2023), Qatar Energy Company announced, on its page on the social networking site.TwitterDiesel and gasoline prices, which are scheduled to start working from tomorrow, Saturday, July 1.
It is noteworthy that the fuel prices in Qatar for the month of July 2023 come as a continuation of the Doha government’s measures to reduce the burden of gasoline and diesel prices on the shoulders of citizens, as it has maintained the current price levels for more than a year, according to information seen by the specialized energy platform.
Gasoline prices in Qatar for July 2023
Qatar Energy Company, the largest energy company in Doha, announced the stabilization of fuel prices in Qatar for the month of July 2023, as prices did not move, to continue at the current June price levels.
The decision to stabilize comes in conjunction with the decline in global oil prices for the fourth month in a row, so the prices were as follows:
- Fixing the price of a liter of diesel at 2.05 riyals.
- Fixing the price of a liter of 95 “super” gasoline at 2.10 riyals.
- Fixing the price of “excellent” 91-octane gasoline at 1.95 riyals.
(Qatari riyal = 0.27 US dollars).
The stabilization of fuel prices in Qatar comes despite the rise in average oil prices during the current month of June, as both benchmarks (Brent and West Texas Intermediate) tend to rise by more than 2% in this June, and the rise will be the first monthly gain for Brent crude. During 2023, however, it will be the second gain for WTI, after gains in April.
Fuel price mechanisms in Qatar
A committee that includes the Qatar Energy Company and representatives of the Ministries of Energy, Finance, Economy, Industry, Trade and Development Planning met to determine fuel prices in Qatar for the month of July 2023. The Commission monthly.
Before the Pricing Committee takes its final decision on the new prices of gasoline and diesel, it studies the current fuel prices in the country and compares them with global oil and oil derivatives prices, in addition to examining other factors, including the conditions and social dimensions of citizens.
Qatar is one of the most stable Arab countries in terms of fuel prices, as its gasoline prices are among the lowest in the Arab world, after Egypt, Algeria and Libya, according to a survey conducted by the specialized energy platform.
It is noteworthy that global oil prices have witnessed a significant decline in recent weeks, as Brent crude continues to settle below the barrier of $75 per barrel, which are figures that are more than 25% lower than the prices for the same period last year 2022.
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