Gasoline prices fall amid global oil demand concerns

Economy

Published: 2023-11-19 14:44

Last Updated: 2024-07-11 12:15


Gasoline prices fall amid global oil demand concerns
Gasoline prices fall amid global oil demand concerns

Gasoline prices dropped in the second week of November as global markets witnessed a decline compared to the previous week - according to an official report.

The report issued by the Ministry of Energy and Mineral Resources Sunday showed that octane 90 gasoline recorded a price of USD 788.1 per ton in the second week of November, compared to USD 803.8, its average price in the first week - recording a two percent decrease.

The report added that octane 95 gasoline fell to USD 845 per ton, compared to USD 851.4 in the previous week - a decrease of 0.8 percent.

The price of diesel has fallen from USD 804.1 to USD 739.4 per ton, a decrease of 8 percent, and kerosene from USD 853.5 to USD 800.7 per ton, a decrease of 6.2 percent.

The price of fuel oil, the ministry's report indicated, fell from USD 449.6 to USD 430.6 per ton, a decrease of 4.2 percent, while the price of Liquefied Petroleum Gas (LPG) rose slightly this November to USD 617.5 per ton compared to USD 611.3 per ton, its average price last October, an increase of one percent.

The average price of Brent crude oil fell in the second week of November to USD 83.6 per barrel, compared to its average price, USD 87.6, in the week before - a decrease of 4.5 percent.