Bahrain and Oman raise fuel prices to boost coffers - FT.com

Bahrain and Oman raise fuel prices to boost coffers - FT.com:

"Bahrain and Oman have increased fuel prices significantly as the Gulf states struggle to rein in budget deficits and ease pressure on government coffers ravaged by the decline in oil prices.
The two poorer members of the six-strong Gulf Co-operation Council followed the example of the United Arab Emirates and Saudi Arabia in cutting subsidies and spending while looking at ways to boost non-oil revenues.

Bahrain, which last year ended state subsidies on meat, announced that regular petrol would rise on Tuesday by 56.3 per cent to 0.125 Bahraini dinars (33 US cents) per litre and premium petrol would increase by 60 per cent to BD 0.160."



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