Kuwait’s fuel cheapest in Gulf region
Kuwait ranked first within the Gulf region in terms of cheap fuel prices, based on the data obtained from the Global Petroleum Price website. Also, the price of fuel in Kuwait is lower than the world average, as the price of a litre of gasoline is USD 0.34 cents while the global average is USD 1.47.
On the other hand, the price of fuel in the UAE is three times higher than in Kuwait. The UAE, which is the third largest producer in the Organization of Petroleum Exporting Countries (OPEC), has raised gasoline prices for the fifth time this year to about USD 1.23 per litre, further widening the gap with other oil producers in the region who are subsidizing the cost of fuel. While other oil-producing countries in the region subsidize the fuel to varying degrees, the UAE liberalized gasoline prices in 2015.
Its prices are now three times the price in Kuwait and more than twice the average cost in other Gulf countries.
