Oil is $ 117.91 for a barrel
27 July 2011
The oil price is $ 117.91 a barrel on the world market or to its highest level in a month. Two months ago, it had reached the $ 109 bar
Given the upward trend at the international level, one wonders if the new mechanism of the Petroleum Pricing Committee (PPC) set up by the STC will meet. A senior officer familiar with the matter tells us that this organization is not going to meet soon, "because the PPC can absorb up to 7% of the Price Stabilising Factor".
"If the pump price exceeds this limit, the PPC will meet. In the event that the body cannot support it, this impact will be passed to consumers. The PPC can occur at any time. It is not only a higher price on the horizon that gives rise to a meeting. For now, the PPC will not meet. We closely monitor market developments. Note that since September 2010, the price skyrockets. We expected a decrease, but this was not the case," he said.