The Ministry of Oil has recently announced the mechanism for calculating the price of feedstock and main oil products for refining companies through a letter to the Director General of the Oil Refining Industry Employers' Association. This decision has been made to clarify and establish a pricing basis in this area, following the Cabinet's resolution regarding the pricing method.
Details of the Ministry of Oil Announcement
The text of this announcement emphasizes that the prices of feedstock and oil products in September 2024 will be announced in accordance with paragraph (2) of Cabinet Resolution No. 81312/T66175H dated October 7, 2026, similar to the prices of July and August 2026. This decision has been taken to create stability in pricing and prevent unnecessary fluctuations.
Iranol Oil Company, symbolized as "Sharanl," also reported its sales revenue in October 2026, indicating approximately 7,285 billion tomans in income. This figure clearly reflects the financial status of this company in recent years and the impact of feedstock pricing on its performance.
Emphasis on Implementing the Cabinet Resolution
This announcement specifies the framework for calculating the price of feedstock and oil products for refineries during the mentioned period. Additionally, the relevant officials have been emphasized to pay attention to implementing the established basis in the Cabinet resolution. This action is considered an important step towards enhancing transparency and financial discipline in the oil refining industry.
Ultimately, this letter has been signed by Hadi Jamshidi, the Director General of Budget and Market Regulation at the Ministry of Oil, and sent to the relevant officials for their information and action. It is expected that with the precise implementation of this announcement, better conditions will be created for refining companies and consumers, leading the oil and oil products market towards greater stability.
