Local newspaper: No Inclination towards Raising Gasoline Prices
2017-10-12 - 4:34 am
Bahrain Mirror: Bahraini local Al-Ayyam newspaper denied that the National Oil and Gas Authority has any inclinations towards currently raising the prices of gasoline in Bahrain, stressing that what is being circulated on social media networking sites is not true.
The newspaper highlighted that a source from the Authority said that since the improvement of "super" gasoline quality, consumers were offered a third option along with "excellent" and "good" gasoline. The source also announced that "super gasoline" will not be sold at a fixed price, which will change periodically according to the adopted price formula which takes into account world prices of an oil barrel, in addition to the operational cost, as well as transportation and other costs. The source added that the price will be determined by a committee from the Ministry of Energy and the Bahrain Petroleum Company (Bapco). The source further stressed that the price of super gasoline is not linked to the prices of excellent or good gasoline, which will remain unchanged at their current prices at 160 fils per liter for excellent gasoline and 125 fils per liter of good gasoline.
The Cabinet had announced a more than 50% increase in gasoline prices after lifting subsidies on energy products, goods and other services to counter the fiscal deficits resulting from the sharp drop in world oil prices.
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