Al-Adrai: Rise in global oil prices is major reason for rise fuel price in Yemen

Publish July 5, 2022
oil and gas

SANA'A, July.04 (Saba) - Yemeni Oil Company said: 'The crazy rise in oil derivatives prices on the international stock exchange, and the high costs of shipping and transportation, led to a rise in fuel prices in countries exporting and importing fuel, including Yemen'.

The company indicated that the world witnessed an unprecedented wave of rise in oil derivatives prices, as the average price of a filtered gasoline barrel in year 2021 AD, from 78 dollars per barrel to 151.50 dollars last June, and its rise to 155.72 dollars per barrel in early July.

While diesel price reached 173.69 dollars per barrel, according to global stock exchange prices, in record indicators that the world has not witnessed for decades.

The rise comes in light of rapid changes that the world countries are witnessing from global stock prices rise, the effects Russian-Ukrainian war on energy prices and fuel crisis aggravation.

As a result of the changes, oil derivatives prices have witnessed a relative increase in Yemeni provinces managed by the Supreme Political Council and the National Salvation Government, within policy framework and Yemeni Oil Company mechanism to maintain the supply situation for oil derivatives, and to ensure their availability to citizens in a way that contributes to alleviating their suffering as a result of the aggression and siege.

Al-Adhra’i explained that there are no oil derivatives produced from the saline market because the local product is controlled by the aggression coalition countries. He indicated that the company determines the prices of oil derivatives based on a specific mechanism through which it calculates the prices of oil derivatives according to the international stock exchange.

He said, 'We provide oil derivatives to the citizen, and the actual cost is calculated according to stock exchange prices with transportation costs, and there are no additives at all. If we do not do our duty and do not import oil derivatives, the citizen will not be able to obtain oil derivatives, because the refineries of the Republic of Yemen are no longer working and crude oil is being processed.' Plunder''.

Al-Adhra’i stressed that the Yemeni people in the occupied areas suffer more than others, as a result of what the aggression coalition is doing in terms of looting and plundering Yemeni people openly wealth during the day and in full view and hearing from the whole world.

The Executive Director of the Oil Company also confirmed that the aggression coalition is still holding 2 diesels, while the local market has been witnessing great suffocation and an increasing need for this substance for 3 weeks. Pointing out that maritime piracy on oil derivatives ships is still going on until the moment, and the least ship has been detained for a week. Which increases gasoline cost.

He stated that oil derivatives ships fare in the past ranged between 20 to 22 thousand dollars per day, but it has now risen to 45 thousand dollars.

Al-Adhra’i concluded by saying: “The aggression countries are still continuing to piracy on fuel ships to raise their costs and bring Yemeni people into supply bottlenecks, and this violates the principles of the armistice'.


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