Fuel prices in Qatar for the month of July 2023

Weather of Arabia - 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.

And Qatar Energy Company announced, on Friday, June 30 (2023), on its page on the social networking site “Twitter”, the prices of diesel and gasoline, which began to work from the beginning of July.

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.

Fuel prices in Qatar for July 2023 - Photo courtesy of Qatar Energy

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).

Stabilization of fuel prices in Qatar comes despite the rise in average oil prices during the month of June, as both benchmarks (Brent and West Texas Intermediate) tend to rise by more than 2% in June, and the rise will be the first gain. monthly for Brent crude during 2023, but 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, which is the meeting that the committee holds 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.