Bahrain has increased the price of domestic gasoline which remained unchanged for 33 years, amid several procedures to face the global low oil prices.
This came as part of Bahrain’s comprehensive economic and fiscal reform programme, as the Cabinet approved on Monday an amended price of gasoline sales, according to a statement carried by Bahrain News Agency (BNA).
“The decision follows recommendations from the Executive Committee, as outlined in a memorandum submitted to Cabinet by the National Oil and Gas Authority,” added BNA.
The new prices will be effective as of Tuesday; the price of 95 Octane will be set at 160 fils per litre, and the price of 91 Octane will be set at 125 fils per litre.
Gasoline amended prices would enhance efficient use of energy sources, have a positive impact on both the economy and the environment, and contribute to the Bahrain’s long-term fiscal stability, said energy minister Dr Abdulhussain Mirza.
The minister said that the action announced follows similar steps taken by fellow GCC countries, and that the amended gasoline price would be similar to prices in other GCC countries.
