Oman Shura members call for fixed annual fuel price - Gulf Business
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Oman Shura members call for fixed annual fuel price

Oman Shura members call for fixed annual fuel price

The country currently changes prices monthly based on global oil markets

Members of Oman’s Shura Council have called for fuel prices to be fixed for the year following increases to prices this month.

Times of Oman reports the calls came after the price of diesel crossed OMR0.200 ($0.52) for the first time and M91 fuel reached OMR0.196 ($0.51).

A special committee at the Shura Council tasked with addressing economic issues met to discuss a ceiling for fuel prices and the possibility of setting a fixed price for the year, according to the publication.

Mohammad Abu Baker Al Ghassani, member of the Shura Council representing Salalah, also said citizens with lower incomes should be considered when prices are increased.

While Ahmed Al Hooti, board member of the Oman Chamber of Commerce and Industry, suggested prices should remain stable for the year between OMR0.120 and current rates.

“We can’t have so many fluctuations in the economy,” he was quoted as saying.

There were also concerns that price rises were impacting other sectors and the prices of essential goods.

Oman was one of several Gulf countries to reduce fuel subsidies last year. Similarly to the UAE’s system, the country changes prices on a monthly basis in line with global oil prices.

Read: Bahrain, Oman raise domestic fuel prices


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