Bahrain fuel prices to increase under new system
The system is expected to gradually raise the cost of diesel and kerosene as Bahrain adjusts its prices to match similar measures in other GCC states
Bahrain's Cabinet has approved a new pricing system for diesel and kerosene, set to take effect in January.
The system is expected to gradually raise the cost of both fuels as Bahrain adjusts its prices to match similarly anticipated reforms in its neighbouring GCC states.
According to state agency BNA, Bahrain's Energy Minister, Dr. Abdulhussain bin Ali Mirza, said, "The measure is based on the recommendations of the ministerial committee in charge of financial affairs and rationalised spending.
"The National Oil and Gas Authority (NOGA) has conducted a comparative study of current and new prices in the GCC member states," he said, adding that Bahrain remains competitive compared with other GCC countries even after the price readjustment.
The minister added the readjusted prices will both benefit Bahrain's national economy and play a crucial role in reducing the smuggling of diesel and kerosene in the Kingdom.