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Qatar lifts domestic gasoline prices by 30%

by ChemOrbis Editorial Team -
  • 15/01/2016 (11:21)
According to media sources, Qatar lifted its domestic gasoline prices by around 30% due to persistently weak oil and gas prices. The Qatari government reported that the country may post a budget deficit of QAR46.5 billion ($12.8 billion) in 2016, which would be the first budget deficit in fifteen years.

Accordingly, prices increased to QAR1.30 ($0.357) per liter from QAR1 for Super 97-Octane. Even after the adjustment, Qatar’s gasoline prices are still among the lowest in the world.

This week, Bahrain and Oman also announced that they lifted their gasoline prices in order to boost revenues hit by plunging crude oil prices.

In late 2015, Saudi Arabia also reported hikes in gasoline prices, raising their domestic gasoline prices by as much as 40% following the announcement of a record $98 billion budget deficit.
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