The Ukraine war, which took place a full year ago, had a major impact on global oil and gas prices. This was reflected in fuel prices in the Arab countries. Including those that produce oil and gas, and do not face direct threats related to energy shortages.
The Russian invasion of Ukraine, on February 24 (2022), resulted in an ignition of global oil prices, and increased waves of inflation that were waiting for an opportunity to announce themselves, especially since many countries in the world had not yet regained their composure from the devastating effects they left behind. Corona pandemic.
Therefore, the specialized energy platform monitored the movements of fuel prices in the Arab countries, by reviewing the average prices of gasoline in these countries, in addition to clarifying the difference between the countries most affected, and those that were not affected by the sword of high prices and the epidemic.
Some Arab countries maintained their gasoline price levels for as long as possible, while other countries were forced to raise prices continuously. This caused these prices to double what they were before the start of the war in Ukraine. In this report, we monitor fuel prices in the Arab countries, from the highest price to the lowest, within a year.
Gasoline prices in Palestine
Palestine holds the record for fuel prices in the Arab countries, especially petrol 95, which is the most widely used there. The General Petroleum Corporation of the Palestinian Ministry of Finance was keen to update the figures on a monthly basis. This highlighted the difference between the period of the beginning of the war a year ago and February 2023.
The price of a liter of 95 petrol in Palestine, during this February, was 6.59 shekels ($1.86), compared to 6.33 shekels ($1.78) in February and March 2022, but it is the same as the prices of April and May. The price rose to 6.59 shekels ($1.86).
In June, the price of gasoline in Palestine rose to 6.99 shekels ($1.97), before recording another increase in July at 7.19 shekels ($2.02), according to information obtained by the specialized energy platform.
Prices fell last August to 6.34 shekels ($1.79), then fell again in September to 6.24 shekels ($1.76), before recording a slight decline to 6.22 shekels ($1.75) in October.
And last November witnessed a slight increase, with which the price of a liter of 95-octane gasoline reached about 6.31 shekels ($1.78), then it rose again, recording 6.59 shekels ($1.86), which is the same level that continued during January 2023, to become an average The price of gasoline in Palestine during a year of war in Ukraine is about 6.80 shekels ($1.91).
Fuel prices in Morocco
Among the fuel prices in the Arab countries, Morocco stands out as one of the countries most affected by the war in Ukraine, especially with the variation in gasoline prices. As the price of a liter of gasoline increased by 13.99 dirhams ($1.36) in February, from 13.72 dirhams ($1.34) in January 2023.
When comparing the current price to the one registered in February 2022; We find a small difference; The price of gasoline was then 12.50 dirhams ($1.22), but these prices witnessed significant increases, before falling back to current levels.
The following infographic, prepared by the specialized energy platform, shows the movement of gasoline prices in Morocco during the year of the war in Ukraine:
The price of gasoline in Morocco witnessed a gradual rise. Where it reached 12.97 dirhams ($ 1.26) last March, then 14.44 dirhams ($ 1.47) in April, and 15.55 dirhams ($ 1.55), according to what was published by the “Global Oil Price” website.
The price of a liter of gasoline in June 2022 touched the limits of 18 dirhams ($1.8), before it fell in July to 14.89 dirhams ($1.45), and again fell in August to 14.68 dirhams ($1.41) per liter, but it rose again. From again in September to the same prices as July.
Gasoline prices in Morocco recorded 15.40 dirhams ($1.50) in October, then jumped in November to 15.70 dirhams ($1.53), before starting to decline to 14.5 dirhams ($1.41) in December. The average gasoline price during the year is about 15.93 Moroccan dirhams ($1.55).
Gasoline prices in Jordan
Among fuel prices in the Arab countries, gasoline prices in Jordan recorded clear increases, especially with its rise from 850 fils ($1.20) in February 2022 to 945 fils ($1.33) in this February, passing through several stations from Ups and downs.
Gasoline prices in Jordan witnessed a state of stability during the first months of the war in Ukraine. Where it remained during the past March and April at the levels of February 2022, but this stability changed in May, with the application of a historic increase – at that time – so that the price of a liter reached 885 fils ($ 1.25).
The following graph, prepared by the specialized energy platform, shows the movement of gasoline prices in Jordan during the year of the war in Ukraine:
In June, a new increase was announced, which jumped the price of a liter of 90-octane gasoline to 920 fils ($1.30), before another increase was approved in July that brought the price of gasoline to 955 fils ($1.35) per liter, then a new increase in August at 990 fils per liter ($1.39), according to the specialized energy platform.
September 2022 witnessed a decline in prices, reaching 985 fils ($1.39), before falling back to 925 fils ($1.30) in October, and then recording a new decline in November to 910 fils ($1.28). .
The declines did not last. As prices rose again in December, to record 920 fils ($1.30) per liter of petrol; This resulted in strong protests, which the government resorted to pacifying by lowering prices in January 2023, bringing the price of a liter of petrol to 900 fils ($1.27); The average price of a liter of the most used gasoline in Jordan is about $1.29.
Gasoline prices in Lebanon
The war in Ukraine exacerbated the gasoline crisis in Lebanon. As it was one of the most confusing and high fuel prices in the Arab countries, especially with it reaching its highest level at $1.34 per liter of gasoline in February, up from $0.69 per liter in the same month of 2022.
The following chart, prepared by the specialized energy platform, shows the prices of gasoline in Lebanon, within the fuel prices in the Arab countries, during the year of the war in Ukraine:
Gasoline prices in Lebanon witnessed a gradual rise. As the price of a liter of octane 95 gasoline recorded last March at $0.85 per liter, before it jumped to $0.89 per liter on April 26, then $1.03 per liter in May, according to information seen by the specialized energy platform.
The price of gasoline jumped last June to $1.12 per liter, but it fell in July to $1.01, and it fell again to $0.97 per liter in August, before rising again in September, with the central bank announcing the cessation of dollar savings. to purchase fuel imports; The price of a liter is $1.06, according to the official website of the Lebanese Ministry of Energy and Water.
In October 2022, the price of a liter of 95-octane gasoline increased to $1.16 per liter, then it jumped again on November 18, to $1.35, before falling to $1.22 on December 16, but this decline did not It lasts with a new jump to $1.24 per liter, bringing the average price of gasoline in Lebanon during the year of the war in Ukraine to about $1.09.
The UAE
Although the United Arab Emirates seeks to be the most stable in terms of fuel prices in the Arab countries; it recently had to raise the price of gasoline; Where the fuel price follow-up committee approved an increase in the price of a liter of gasoline of all grades; As the price of a liter of 95 petrol was 2.93 dirhams ($0.80).
The following graph, prepared by the specialized energy platform, shows average fuel prices in Arab countries during a year of the war in Ukraine:
This is the first increase after two months of decline, during which it reached 2.67 dirhams in January 2023, and 3.18 dirhams in December, after the price of 95-octane gasoline reached about 3.20 dirhams ($0.87) in November. the second 2022.
It is noteworthy that the price of gasoline in the UAE rose to its highest level during the year at 4.52 dirhams ($ 1.23) in July 2022, before slowly declining in the subsequent months, August and September, according to what was seen by the energy platform. Niche.
Fuel prices in the UAE have witnessed hesitant movements. It rose last March, the month following the war in Ukraine, to 3.12 dirhams ($0.85), then in April to 3.62 dirhams ($0.99), and then fell to 3.55 dirhams ($0.97) in May. , so that the average fuel prices in the UAE throughout the year are about 3.44 dirhams ($ 0.94).
Gasoline prices in Saudi Arabia
The Kingdom of Saudi Arabia is considered one of the most stable countries in terms of fuel prices in the Arab countries. As the current price of a liter of 95-octane gasoline in February 2023 is 2.33 riyals ($0.62), which is the same price as in March 2022, the month following the Ukraine war, according to what Saudi Aramco announced.
This price is the same as that recorded in the months of December 2022, and the past April, May and June, despite the successive decisions of the OPEC + alliance to reduce the oil production ceiling by 100 thousand barrels in October, and two million barrels in October. November.
Despite what was raised about the price hike in July 2022; The Kingdom maintained the same prices throughout the month and the months following it, according to what was seen by the specialized energy platform, so that the average price became constant at the applicable figures, which are 2.33 riyals ($ 0.62).
Fuel prices in the Sultanate of Oman
The Sultanate of Oman leads the fuel prices in the Arab countries in terms of stability. As prices have not changed for more than a year, especially after the Council of Ministers’ decision in October 2021 to stabilize fuel prices until the end of the past year 2022.
The situation did not change for the new year 2023, as the price of 91-octane gasoline was fixed at 0.229 riyals ($0.60) per liter at a maximum, which is the average price of Omani gasoline during the year of the war in Ukraine, according to information seen by the specialized energy platform.
Fuel prices in Qatar
The State of Qatar maintained gasoline prices, to be one of the best stable fuel prices in the Arab countries. As the prices of this February, for a liter of premium 91 gasoline, recorded 2 riyals ($ 0.55), compared to 2.05 riyals ($ 0.56) in February 2022.
Last January, gasoline prices in Qatar recorded stability, after declining in December 2022 to 1.95 riyals ($0.54), from 2 riyals ($0.55) in November, according to what was seen by the specialized energy platform.
Qatari gasoline prices recorded a level of 1.95 riyals ($0.54) in October, which is the same price recorded in September, which came up from 1.90 riyals ($0.52) in August and July 2022.
In June, petrol prices fell to 1.95 riyals ($0.54) down from 2 riyals ($0.55) in May, the price recorded in April and March, to become the average price of petrol in Qatar during a year of war. In Ukraine, about 1.96 riyals ($0.54).
Fuel prices in Algeria
Gasoline prices in Algeria are among the cheapest fuel prices in the Arab countries. As it maintained its stability at 43.71 Algerian dinars ($ 0.31), per liter of regular gasoline, the most used in the country, which was the price recorded in February.
The price of gasoline in Algeria has not increased or decreased for several months. As the specialized energy platform monitored in December 2022 the prices of gasoline there, and it did not differ from what it monitored in July of the same year.
Algeria maintains the stability of fuel prices, especially since it is one of the cheapest countries in the world and the Arab countries in terms of fuel prices. Where the price of 4 liters of Algerian gasoline is equivalent to the price of one liter of gasoline in neighboring Morocco, so the average price of gasoline in Algeria throughout the year is about $0.31.
The following infographic, prepared by the specialized energy platform, refers to Algerian fuel numbers during a year of the Ukrainian war:
Gasoline prices in Egypt
Despite the state of inflation that the Egyptian economy suffers from; Cairo is considered one of the most stable countries in terms of fuel prices in the Arab countries. As the current price level, which is 9.25 pounds ($0.30) per liter of the most traded 92 petrol, is the number in effect since the announcement of the last increase.
The following infographic, prepared by the specialized energy platform, shows the lowest fuel prices in the Arab countries, including Egypt, Algeria and Saudi Arabia:
And Egypt had announced the largest increase in gasoline since announcing the liberalization of fuel prices, in a month in July 2022, which are the prices that were fixed last October, and an unannounced decision was issued to continue fixing them until the end of next March.
And the price of gasoline in Egypt was recorded last April – which witnessed the first meeting of the automatic pricing committee after the start of the war in Ukraine on February 24, 2022 – about 8.75 pounds ($ 0.29) per liter, to record the average price of gasoline throughout the year of the war. About 9.12 pounds ($0.30), according to information seen by the specialized energy platform.
Leave a Reply