NO CHANGE IN FUEL PRICES IN QATAR DURING MAY, MINISTRY OF ENERGY SAYS

Doha, – Fuel prices in Qatar during the month of May will not change compared to April’s prices, the Ministry of Energy and Industry said Saturday in a statement.

Diesel prices were at QR1.6 a liter, gasoline meanwhile remained at QR1.6 a liter and QR1.7 a liter for 91-octane Premium gasoline and 95-octane Super gasoline respectively. An official from the ministry said that the prices will remain constant based on the results of the model employed by the State of Qatar in determining fuel prices. The model reflects the fluctuation in international oil prices over the past 90 days, which is the period adopted by the committee charged with determining fuel prices.

The Ministry of Energy and Industry announced in April 2016 that it formed a committee to examine fuel prices in the local prices. The committee became in charge of restructuring the prices in local market in accordance with global markets. The committee adopted the 90-day period as the timeframe for determining fuel prices, in accordance with the standards in all advanced economies. (QNA)

Source: Qatar News Agency