Bahrain Mirror: Bahrain's Cabinet decided in its meeting held today (Monday, January 11, 2016) to immediately raise gasoline prices.
The Bahraini Minister of Information Affairs and Shura Council and House of Representatives Affairs said in a press conference following the meeting that the Cabinet decided to raise gasoline prices to 160 Fils per liter of super fuel, and 125 Fils per liter of regular.
The minister stressed that the decision will be put into effect as of tomorrow (Tuesday, January 12, 2016), adding that "the decision issued today was made by the government not the legislative authority."
The prices in Bahrain were 80 Fils for regular gasoline and 100 Fils for super. This recent increase in prices reveals that the government decided to raise the price of super gasoline by 60% i.e. 60 Fils per liter, while increasing the price of regular gasoline by 56.25% i.e. 45 Fils per liter.
This is only one step among a series of steps that began last year as part of the government's plan to lift subsidies on goods and services in order to face the budget deficit and the difficult economic conditions that Bahrain and other Gulf states are suffering from after the drop in oil prices.
Bahrain had previously lifted subsidies on meat products and raised electricity, water, diesel and kerosene tariffs.