KUWAIT: The government could issue a decision to increase fuel prices next month; that is during the parliamentary summer break after, informed sources said. It was earlier expected that the decision, which does not require to be passed in the parliament, would be put into practice last month.
The sources added that according to technical committees studying the new fees, price increases would vary between 14 and 83 percent, which would save around 66.6 percent of the KD 400 million in subsidies.
The sources explained that the new prices would be 85 fils per liter for the 91 octane gas (premium) that is currently sold for 60 fils, 105 fils per liter for the 95 octane gas (super) that is currently sold for 65 fils and 165 fils per liter for the 98 octane gas (ultra) that is currently sold for 90 fils. Further, the sources indicated that the new prices would be periodically reviewed in accordance to international oil price developments. — Al-Qabas