New prices of Gasoline in Kuwait
Ministry of councils approved the removal of subsidies on gasoline from the 1st of September.
Premium = 85 fils/l
Super = 105 fils/l
Ultra = 165 fils/l
The Kuwaiti Cabinet Monday decided to raise petrol prices by more than 80 percent from Sept 1 as part of economic reforms aimed at countering falling oil revenues. The Cabinet endorsed on Monday a plan to “start rationalizing fuel subsidies where the prices will be restructured in harmony with the average rates” in the other member states of the Gulf Cooperation Council (GCC).
The ministers, during the weekly session, were briefed about recommendations presented by the economic affairs committee with respect of a proposal by the committee charged with revising various kinds of State subsidies, on setting fuel prices.
They approved the commission recommendation and decided to begin “rationalizing subsidies for benzene in the country, as part of the Government reform scheme where the fuel products’ prices will be restructured to be in harmony with the average rates in the other GCC states.
“The new pricing policy will be in effect as of 1-9-2016 in line with the policies adopted in the GCC countries.” The new prices are as follows:
Octane-91: 85 fils per liter from 60,
Octane-95: 105 fpl from 65,
Ultra-Premium: 165 fpl from 95.
The new prices have been set after examining global rates. Kuwait is the last GCC State to embark on “restructuring the fuel prices,” however the new ones remain the lowest among the Council countries, as well as globally.
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