Three GCC countries cut oil prices in January – Mubasher Report

Three GCC countries cut oil prices in January – Mubasher Report
Kuwait did not disclose any change in fuel or diesel prices for January

By: Mahmoud Gamal

Dubai – Mubasher: Three GCC countries have reduced fuel prices in January including the UAE, Qatar, and Oman as a result of the drop in oil prices seen last year.

In the UAE, Super 98 now costs AED 2 per litre from AED 2.25 in December, while Special 95 falls from AED 2.15 to AED 1.89 per litre and diesel is down to AED2.30 against AED2.61, according to data accumulated by Mubasher.

Qatar Petroleum (QP) announced reducing the price of diesel fuel to QAR 1.75 per litre in January from QAR 2 in December 2018.

Oman’s National Subsidy System (NSS) announced in December that fuel prices would be decreased this month, with M91 price fell to 198 baisas per litre in the first month of 2019 from 211 baisas per litre in December 2018.

Meanwhile, Saudi Arabia, Bahrain, and Kuwait did not disclose any change in fuel or diesel prices for the first month of the new year.

 

Translated by: Muhammad Khalid