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Fuel prices rise in UAE, Qatar and Oman during May

May 3, 2018 at 12:29 am

Official data that has recently been published showed rising of gasoline prices sold domestically in the UAE, Oman and Qatar in May, compared to the previous month.

This coincided with the rise in the average world prices of crude oil which exceeded the level of $ 70 a barrel.

The three Gulf countries follow a mechanism to adjust the prices of local petroleum products on a monthly basis to keep pace with international prices plus the cost of transportation and distribution services.

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According to data published by the Anadolu Agency on Wednesday, fuel prices in the three countries rose between 2.8 per cent to 8.1 per cent.  The rise in Qatar is between 5.3 to 8.1 per cent, while prices in the UAE rose between 6.86 to 7.5 per cent.

Prices in Oman rose by 2.8 to 3.4 per cent this month.

In Qatar, this is the seventh increase in fuel prices since the Saudi Arabia, UAE, Bahrain and Egypt have experienced a boycott against Qatar 11 months ago.

The Qatari economy was affected during the first days of the blockade and boycott which began on June 5. However Doha implemented a package of measures that restored the normal state of its markets.