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Thursday, October 28, 2021

Qatar fuel prices to go up QR0.10 in November

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Photo for illustrative purposes only.
Photo for illustrative purposes only.

After falling for two months, fuel prices in Qatar are set to rise from the beginning of November.

The Ministry of Energy and Industry announced the upcoming QR0.10 increase in prices today.

Starting Nov. 1, the cost of one liter of 91-octane, premium grade petrol will be QR1.35/liter, while super (95-octane) gasoline will cost QR1.45/liter.

The price of diesel will remain unchanged at QR1.40/liter.

November petrol prices
November petrol prices

The increase follows two months of prices dropping by QR0.05, bringing prices back to August levels – their highest this year.

Qatar’s energy ministry first announced plans to change monthly fuel prices based on the global market in April.

This was months after it hiked prices by more than 30 percent for the first time in five years.

Woqod profits down

The price hike also comes as Qatar Fuel (Woqod) reports a 30 percent drop in net profit during the third quarter of this year.

The company brought in a net profit of QR850 million, down from QR960 million during the same period in 2015. This was due to a drop in the number of diesel-related contracts held by the firm, officials told the Peninsula.

Photo for illustrative use only.
Photo for illustrative use only.

However, Woqod is hoping to boost business by opening some 10 petrol stations around Qatar by December.

Next month, new fuel stop locations will include Hamad International Airport, in Mshereib, Old Al Rayyan and Al Mashaf in Wukair.

It also has plans to seven new vehicle inspection centers next year.

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