Ultra 98 gasoline price will increase starting from 7th July

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The Oula Fuel Company stated that the committee to re-examine the various types of subsidies affiliated to the Ministry of Finance has decided to amend the price of a liter of gasoline (Ultra/98 octane) from 165 fils per litter to 175 fils from July 7 to September 30, 2021, instead of the previous price.

Currently prices are following:

Ultra 98 – 175 Fils/L (the price change in 2021)
Unleaded Super 95 – 105 Fils/L
Unleaded Premium 91 – 85 Fils/L
Diesel – 115 Fils/L
Kerosene – 115 Fils/L

An official oil source in the Kuwait National Petroleum Company stated that the consumption of ultra-98 octane (gasoline) is lesser compared to the daily consumption of special and premium gasoline. On a daily basis Kuwait’s consumption of Ultra gasoline ranges between 78,000 and 173,000 thousand liters per day which is very small compared to other types of fuel, reports Al Anba. Total consumption of petrol in the country is 12-13 million liters per day, consumption of Unleaded Premium 91 reaches 8.5 million litters and Unleaded Super 95 reaches 4 million liters per day.

The shift in consumption patterns changed from August 2016 after the cabinet decision to raise gasoline prices in Kuwait, as gasoline consumption changed from Unleaded Super 95 to Unleaded Premium 91 due to the price discrepancy between producers. There is a small segment using luxury cars or for racing purposes, after this increase in prices of Ultra 98 for these coming three months a decrease in consumption is expected.

News source: Arabtimes

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