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Friday, May 14, 2021

Qatar to cut fuel costs marginally in September

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For illustrative purposes only
For illustrative purposes only

Petrol prices in Qatar will drop by about five dirhams a liter next month,  the Ministry of Energy and Industry has announced.

Starting Sept. 1, 91-octane premium petrol will cost QR1.30/liter, down from QR1.35 currently.

And Super 95-octane gasoline will cost QR1.40 per liter, down from QR1.45 previously. Diesel remains unchanged at QR1.40/liter, the ministry said on its website yesterday.

The drop takes fuel prices back to July’s rate.

September 2016 fuel prices
September 2016 fuel prices

The reduction is small and will only save about QR5 on the cost of filling up the average Toyota Land Cruiser.

But it will likely be welcomed by residents, amid the ongoing rise in the country’s cost of living.

Qatar’s petrol price cut stands in contrast to the UAE, which marginally raised rates for September.

Overnight hike

Despite the cut, Qatar’s fuel remains more expensive than it was at the start of the year, when a surprise hike increased prices by 30 percent overnight.

The announcement caused chaos at petrol stations across the country as people queued to fill up before the new prices took effect.

A few months later, the government said it would begin pegging petrol prices to the global market.

For illustrative purposes only
For illustrative purposes only

This marked a change in a decades-old policy to keep the cost of fuel stable and artificially low through heavy subsidies.

At the time, the ministry said the goal was to to raise awareness about energy usage among consumers here and help the country’s economy and environment.

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