Pricing Committee May Stabilize Gasoline's Prices

Experts expect that the Committee of Pricing Oil Products is about to stabilize prices of gasoline without change when the committee convenes during the first week of July.

The committee convenes every three months to revise prices of fuel in the light of the international level of Brent crude and rate of foreign currencies, whether the last rise in the international prices requires the same move in the local market. But experts indicate that such a step is not on the card.

The committee over its recent meeting in April rose the price of gasoline by 25 piasters (a quarter of the pound).

But it decided to remain prices of diesel and mazut without change and justified its decision to revision of the international prices of fuel and the rate of exchange the pound pegged to the USA dollar within the first quarter of the current year as well as the exceptional circumstances in the world due to the Coronavirus (known also as COVID-19).