Built to inform

Sign up for the daily newsletters

No, Thank you

Subsidy slash increases Oman fuel and oil prices

Fuel prices have also increased in Bahrain, which is implementing similar price hikes to increase its fiscal revenues

Fuel prices have increased in Oman and Bahrain.
Fuel prices have increased in Oman and Bahrain.

Gasoline prices in Oman and Bahrain increased as both countries lifted their fuel subsidies in a bid to boost government revenues. 

Oman News Agency said in a statement that the new price for gasoline 95 octane will be 0.160 rials ($0.4156) per litre, while the price for 90 octane will be 0.140 rials per litre.

The price for diesel will be 0.160 rials per litre. 

These values will take effect starting 15 January, and will be reviewed on a monthly basis, much like GCC neighbour UAE's system. 

Furthermore, according to Khaleej Times, the Bahraini cabinet also said in a statement to national media that it is increasing its fuel prices starting 12 January. 

Super fuel has been valued at 160 Bahraini fils ($0.424) per litre from 100 fils, while the price for regular fuel has been raised to 125 fils per litre from 90 fils.  

Both countries are reportedly slashing fuel subsidies in light of reduced government budgets due to global oil price devaluations. 

 

Most popular

Awards

New category open for consultancies at CW Awards 2019 in Dubai
Sub-Consultancy of the Year to be crowned for the first time at the gala ceremony

Conferences

Leaders UAE 2019: Pinsent Masons confirmed as Gold Sponsor
Law firm is among the major construction industry players confirmed as sponsors for Leaders UAE's
Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power

Latest Issue

Construction Week - Issue 745
Jun 30, 2019