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Fuel: No Increase Before January

21 November 2011 - Le Matinal

Fuel: No Increase Before January

There is no need for motorists to frown at this time of year-end. The State Trading Corporation (STC) has no plans to increase fuel prices by the end of December.This was stated in The Sunday Morning, a senior official of the parastatal bodies.

Although the price of a barrel of oil is currently rising on the world market, the direction of the STC believes that it is able to continue to supply the country in the best possible conditions. In his direction, we insist on the fact that fuel prices will remain unchanged until the end of the year.

"There will be no drop or rise in fuel prices. In any case, there is no evidence to justify any adjustment in fuel prices during this period, "he said.

The State Trading Corporation, says it will be able to have a clearer idea of what to do from next January, as Europe enters the ground floor in winter and that fuel consumption will increase, so that it will affect demand, and possibly fuel prices. In one year, a barrel of oil has increased from 85 to 114 dollars now. At the STC is currently studying the situation closely with regard to the price performance of these petroleum products. It insists that all means were implemented to prevent a probable increase in fuel prices.

The Petroleum Pricing Commmittee (PP?) had the assignment to mitigate the impact of any possible increase in fuel prices.

The direction of the STC believes that a possible rise in gasoline prices is not any time soon, because the Price Stabilization Account parastatal body that was established to cushion any hypothetical fluctuation.

According to the STC, will require, at the international level, higher than the 5% for the parastatal body can, therefore, recommend any increase.

The indicators show that so far it has not yet arrived there regarding the price of gasoline.

However, we note that the price of diesel in the world market continues to grow and comes dangerously close to that threshold. If the price continue to rise, the STC study the possibility of recommending an adjustment of prices.

 

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