Ceiling on fuel prices welcomed

People of the Sultanate of Oman have welcomed the Royal Directives to stabilise vehicle fuel prices in accordance with the rates of October 2021 as a maximum ceiling.

The government will bear the loss from the differences in oil prices till the end of 2022, the directive said.

The fuel prices for the month of October were 229 baisas/litre for M91; 239 baisas/litre for M95; and 258 baisas/litre for diesel. In line with the global trend, the fuel prices had gone up by three baizas for M91 and M95.

“We had hoped that the fuel prices will be contained as crude prices continue to go up due to demand,” said Sahid in his social media post.

As fuel prices were expected to go up in Oman in line with the rising demand for oil worldwide, motorists have been worried on the impact it will have on their daily budget.

“Fuel prices ceiling will give the positive feeling as businesses are getting normal have some people have to travel a minimum of 100km daily for work and back,” Mohammed al Balushi, who works in Halban and stays in Amerat.

Several expatriates who spoke to the Observer welcomed the decision as more offices are shifting away from city centre to places like Madinat al Irfan (Airports area), Ghala and South Batinah.

The Sultanate of Oman’s refineries recorded an increase in the production of automobile fuel until the end of September 2021 by 13%, compared to the corresponding period of 2020, according to data released by the National Centre for Statistics and Information (NCSI).

Of the total production, sales of petrol (M-95) stood at 9,510,900 barrels, an increase of 16 per cent, while its exports stood at 1,422,200 barrels, comprising a rise by 10 per cent, compared to the corresponding period in 2020. The production of standard grade petrol (M-91) by Omani refineries stood at 9,933,000 barrels comprising a rise by 41 per cent till the end of September 2021, compared to the corresponding period in 2020.

Domestic sales of petrol (M-91) stood at 6,379,500 barrels comprising a 10 per cent increase, while its exports reached 3,850,300 barrels, a rise by 41 per cent, compared to the corresponding period in 2020.

Domestic sales of diesel stood at 9,953,900 barrels, a drop of 1 per cent, and its exports reached 17,382,200 barrels, an increase of 13 per cent, compared to the corresponding period in 2020.