Bahrain and Oman increase petrol prices
Bahrain and Oman have significantly increased their petrol prices this week as they look to reduce the pressure on government spending while they cope with declining oil prices.
The UAE and Saudi Arabia have already implemented measures involving fuel prices as they look for ways to boost non-oil revenues.
Bahrain announced regular petrol will now be BHD 0.125, which is a 56.3% increase, while the price of premium petrol has increased by 60% to BHD 0.160. This is Bahrain’s first petrol price increase in 33 years.
Oman is raising the price of regular petrol by 23% to OMR 0.140, premium petrol by 30% to OMR 0.160, and diesel by 10% to OMR 0.160. The Omani price increase came into effect on January 15 and will be reviewed monthly. The current hike had already caused motorists to jam up petrol stations before the new prices went into effect, as seen in the photo above.
Photo by Alvin E. Thomas.