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Tuesday 29 Dec 2015 - 10:14 Makkah mean time-18-3-1437
Manama (IINA) – Bahraini Energy Minister Dr Abdulhussain bin Ali Mirza announced Monday that new kerosene and diesel prices will come into effect from 1st January, Bahrain News Agency (BNA) reported.
"The measure is based on the recommendations of the ministerial committee in charge of financial affairs and rationalized spending,” Mirza said, adding that the Cabinet, which convened on Monday, endorsed the new prices.
The minister underlined the decision of the Cabinet session to continue subsidizing fishermen and bakeries. He added that the readjusted prices, which will take effect on Friday, will play a crucial role in reducing the smuggling of diesel and kerosene.
Mirza pointed out that the new prices would contribute to providing financial savings and rationalizing energy consumption, saying that the measure was scrutinized in cooperation with the legislative branch of the government, taking into account the level of prices in other Gulf Cooperation Council (GCC) states.
"The National Oil and Gas Authority (NOGA) has conducted a comparative study of current and new prices in the GCC member states," he said, adding that Bahrain remains competitive, compared with other GCC countries, even after the price readjustment.
AB/IINA
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