Fuel prices for August announced in Oman
July 31, 2017 | 8:30 PM
by Times News Service
Photo - shutterstock

Muscat: Fuel prices for August have increased from last month’s levels, the Ministry of Oil and Gas announced on Monday.

According to the latest prices released by the Ministry, M95 petrol will now cost 186 baisas per litre, compared to 183 baisas a litre last month.

M91 petrol will cost 178 baisas a litre compared to 175 baisas in July. The price of diesel has gone up to 196 baisas a litre from 192 baisas a litre in July.

Since the fuel subsidy was removed, prices have risen in line with international crude prices, more than 50 per cent higher than subsidised rates.

Officials, including the Minister of Oil and Gas, have called for targeted subsidies that focus on protecting low income groups and slash unfair grants to residents who can afford to pay more

Dubai Mercantile Exchange (DME) said that Oman oil price (September delivery 2017) reached $50.47.

The DME statement said that the price of Oman oil rose 64 cents from the price of last Friday, which was $49.83.

The average price of Oman oil (August Delivery 2017) has stabilised at $46.52, thus $4.03 per barrel lower than July delivery 2017.

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