Bahrain diesel 'fifth cheapest' in the world
Manama, September 26, 2013
Bahrain has the fifth cheapest diesel in the world, while Venezuela has the cheapest at six fils ($0.015) per litre followed by Iran, Saudi Arabia and Libya, according to a new report.
Bahrain's price of 60 fils per litre makes it the fifth cheapest place to buy diesel, according to research commissioned by UK car parking provider Looking4Parking.com and financial website This is Money, said a report in the Gulf Daily News (GDN), our sister publication.
Qatar was seventh on the list with diesel prices of 90 fils per litre. While Middle Eastern countries dominated the top of the list for cheap diesel, nine of the 10 most expensive countries were in Europe.
"But not everyone gets a great deal," said Looking4Parking spokeswoman Amy Byard.
"Stark differences in levels of disposable income mean that diesel in some of these [Middle Eastern] countries is still relatively unaffordable.
In December, the GDN reported that by next year Bahrain was expected to spend almost BD1 billion ($2.63 billion) a year in oil and gas subsidies to keep prices down. Early in 2012, subsidised fuel prices were blamed for an increase in diesel smuggling out of Bahrain by oil industry experts. – TradeArabia News Service
More Energy, Oil & Gas Stories
- Experts discuss key geosciences issues
- Egypt to permit factories to use coal for energy
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn