Dubai: Bahrain on Monday announced a hike of more than 50 percent in petrol prices following its cut in subsidies for energy products as oil producing countries struggle with nosediving crude prices.
The government said the price of regular petrol will increase Tuesday from 80 fils (20 cents) per litre to 125 fils (33 cents), an increase of 56.3 percent.
The more expensive super petrol will increase by 60 percent, from 100 fils(27 cents) to 160 fils (42 cents) per litre, it said after a cabinet meeting.
Earlier this month, Bahrain cut government subsidies for diesel and kerosene following similar moves by its Gulf neighbours.
Saudi Arabia in December raised petrol prices by 50 percent as part of subsidy cuts for petroleum products, power and water, after the country posted a record $98 billion budget deficit for 2015.
The United Arab Emirates has liberalised fuel prices, while Kuwait lifted subsidies on diesel and kerosene from the start of 2015.
Arab states of the Gulf, heavily reliant on oil income, have been hit hard by the sharp decline in crude prices.
AFP
