Petrol prices go up in Oman after subsidies removed for 2018

Petrol prices go up in Oman after subsidies removed for 2018

From this year onwards, petrol prices are going up in Oman as a government cap on the price of “M91” fuel has been removed. Oman’s Ministry of Oil and Gas has announced fuel prices for the month of January as well as a subsidy programme for low-income Omanis.

M91 petrol is now priced at 199 baisas per litre, 13 baisas above its previously capped limit of 186, and will vary every month based on global oil prices. M95 petrol will be priced at 219 baisas, six baisas higher than the previous 213 baisas per litre. And the price of diesel will be 230 baisas per litre, up from 219 baisas.

Omani families that earn less than OMR 600 a month will be able to buy the first 200 litres of fuel every month at a subsidised rate of 180 baisas under the subsidy scheme limited to Omani citizens. More than 156,000 nationals registered for it by the end of December 2017.

Fuel subsidies were removed in Oman in 2016. Prices were allowed to fluctuate with global oil prices and petrol prices rose quickly, leading to protests in February 2017 that made the government introduce the cap that has just been removed.

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