Bahrain diesel 'fifth cheapest' in the world
Manama, September 26, 2013
Bahrain has the fifth cheapest diesel in the world, while Venezuela has the cheapest at six fils ($0.015) per litre followed by Iran, Saudi Arabia and Libya, according to a new report.
Bahrain's price of 60 fils per litre makes it the fifth cheapest place to buy diesel, according to research commissioned by UK car parking provider Looking4Parking.com and financial website This is Money, said a report in the Gulf Daily News (GDN), our sister publication.
Qatar was seventh on the list with diesel prices of 90 fils per litre. While Middle Eastern countries dominated the top of the list for cheap diesel, nine of the 10 most expensive countries were in Europe.
"But not everyone gets a great deal," said Looking4Parking spokeswoman Amy Byard.
"Stark differences in levels of disposable income mean that diesel in some of these [Middle Eastern] countries is still relatively unaffordable.
In December, the GDN reported that by next year Bahrain was expected to spend almost BD1 billion ($2.63 billion) a year in oil and gas subsidies to keep prices down. Early in 2012, subsidised fuel prices were blamed for an increase in diesel smuggling out of Bahrain by oil industry experts. – TradeArabia News Service