FINANCIAL NEWS

Bahrain to cut its petrol subsidies by 50 percent

12 Jan 2016

(MENAFN) Bahrain proclaimed a hike of more than 50 percent in petrol prices trailing its cut in subsidies for energy products as oil producing nations struggle with falling crude prices.

Accordingly, the government cleared that the price of regular petrol will grow by 56.3 percent, and the more expensive super petrol will increase by 60 percent.

In addition, Bahrain reduces government subsidies for diesel and kerosene following same moves by its Gulf partners.

The new price for gasoline 95 octanes will be USD 0.4156 per liter, whereas the price for 90 octanes will be USD 0.037 per liter, and no change in prices will be presented to the jet fuel.

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