Qatar Fuel (Woqod) has hiked petrol prices steeply with effect from midnight.

Following the raise, the price of Gasoline Super 97 is now QR1.30 per litre, an increase of 30% from the earlier QR1 and the price of Gasoline Premium 90 QR1.15 per litre, from QR0.85, a hike of 35%.

There is no increase in diesel prices. The last hike in petrol prices was in 2011, while diesel prices went up in 2014.

Woqod, a joint-stock company, is exclusively responsible for the distribution of fuel needs within the country.

In a circular sent out on Thursday, Woqod instructed petrol stations to inform all customers about the new prices before dispensing fuel.

The metres have to be readjusted in accordance with the new prices.

"Boards and stickers announcing the petrol prices have to be replaced in the shortest possible time," it said considering the fact that there was only a few hours left to make the changes.

Woqod has also asked petrol stations to display the announcement about the petrol prices hike prominently, for the benefit of customers.

Petrol prices in Qatar are still among the most affordable in the world.

In 2014, Qatar raised diesel prices for the first time in three years by raising the price from QR1/litre to QR1.50 for local companies, and QR1.80/litre for joint ventures.

The earlier rate of QR1 per litre had been effective since late January 2011 when distributors suddenly raised the prices of petrol, diesel and kerosene.

According to sources, the government decision not to increase diesel prices will help curb inflationary trends as the movement of goods will not become dearer. Qatar imports a large part of its food and non-food requirements by road from the UAE and Saudi Arabia.

Qatar was the last among the GCC countries except Kuwait to raise fuel prices in the recent past. Saudi Arabia, Bahrain, the UAE and Oman revised their respective fuel prices upwards in the last six months, following the fall in crude oil prices in the international market.

The UAE had increased petrol prices by over 24% in July last year, followed by Saudi Arabia which in December raised petrol prices by 50%.

Bahrain had on Monday announced a hike of more than 50% in petrol prices, while Oman has set new selling prices for domestic gasoline and diesel fuels from Friday (January 15).

As per the information on the UAE Ministry of Energy website, the price of unleaded gasoline 95 Octane has risen 24.41% from Dh1.72 per litre to Dh2.14 per litre. Similarly, 98 Octane now costs Dh2.25 per litre from Dh1.83 per litre, reflecting an increase of 22.95% while E-Plus 91 prices recorded the highest rise as it climbed 28.57% from Dh1.61 per litre to Dh2.07 per litre.

In Saudi Arabia, the price of higher-grade unleaded petrol increased to 0.90 riyals per litre from 0.60 riyals, a hike of 50%, and for lower-grade petrol to 0.75 riyals from 0.45 riyals per litre, a 67% rise.

In Bahrain, the price of regular petrol has increased from 80 fils per litre to 125 fils, an increase of 56.3%. The more expensive super petrol has gone up by 60%, from 100 fils to 160 fils per litre.

Kuwait lifted subsidies on diesel and kerosene early 2015.

In Oman, the revised price for gasoline 95 octane will be 0.160 rials per litre, while the price for 90 octane will be 0.140 rials per litre. The price for diesel will be 0.160 rials per litre. Oman is to review the new prices monthly.

Source: http://www.gulf-times.com/story/475038/30-to-35-hike-in-Qatar-petrol-prices-from-Friday

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