Doha: The price for petrol will remain the same in the month of May, even after linking them to the global market prices for petroleum products. The price of diesel will decrease by 10 dirhams in May.
This was disclosed by the Ministry of Energy & Industry in a notification showing the prices for fuel in the month of May 2016 on their website.
According to the ministry, the price for 90 octane petrol (premium) will be QR1.15 and for 97 octane petrol (super) will be QR1.30 in May 2016.
Diesel will be priced QR1.40 in May 2016, which is 10 dirhams less than the current price of QR1.50.
The Ministry had earlier announced the restructuring of fuel prices in the domestic market, and linking them to the global market prices for petroleum products.
The prices will be published on the official site of the Ministry and in the local newspapers before the end of each calendar month. They will go into effect of 12:01 after midnight on the first day of the month of May 2016.
A committee has been formed for studying fuel prices in the domestic market with members from several government agencies in the state. The committee will study the price of fuel (petrol and diesel) on monthly basis and make recommendations with proposed prices based on a price formula that takes into account the changes on the prices of petroleum products in the global market, and operational costs related to the production and distribution of fuel in the local market, as well as fuel prices in the countries of the region.
Restructuring of fuel prices in the state and adjusting them on a monthly basis does not necessarily mean a rise in prices, but it means that the prices will be linked to the actual prices of these commodities whether up and down according to world prices.
The Peninsula/QNA
