The Ministry of Energy and Industry has announced the prices of petrol and diesel for May, in line with the move to review the prices every month. The May price list issued by the Ministry shows a reduction in diesel prices by about seven percent, while prices of petrol (super and premium) remain the same.

Diesel, which is currently priced QR1.5 per litre, will be available at QR1.4 per litre during May. Petrol prices will remain the same, Super at QR1.30 per litre and Premium at QR1.15 per litre. “As diesel prices in Qatar were considered the highest in the region, the reduction is expected to have a positive impact on the local market and would lead to a fall in inflation and the costs,” the ministry said in a statement yesterday.

The fact that the prices of petrol remain on a par with the prices in many countries in the region and the international market is a positive indication of the Qatari energy sector. Linking local fuel prices with international prices is a common policy in all free markets in the world, said the ministry.

The committee to study fuel prices on a monthly basis has approved a formula to calculate the prices taking into account the social and economic factors, on top of which is not to affect the inflation level. Fuel prices will be published before the end of every month in different media with transparency, said the ministry.

Source: http://bit.ly/1N1vAtf

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