Oman- People say decision will affect expenditure

Date

12/31/2015 2:53:37 AM

(MENAFN- Muscat Daily) Muscat-

People have said that the decision will affect personal and corporate expenditure.

An official from a logistics services provider said 'This news of deregulating prices of oil products on the heels of the announcement on increasing taxes can be a big blow to my business. All I can hope for is that authorities keep diesel prices in check.'

He continued 'The absence of a rail network means that road transportation is key. Oman's population is relatively small which means that the quantities delivered are also small. These factors contribute to an already high transportation cost.'

He however added that PACP monitoring price rise was a good thing.

'Mainly because prices of everything could skyrocketfrom bus fees to a kilogram of carrots.' I H (full name withheld) a taxi driver from North Batinah said 'Would you be willing to take a salary cut amid rising prices? Our costs will surely go up and this hike will probably be more than the percentage increase in fuel prices.'
PACP says it will be monitoring prices

In a statement on Wednesday H E Dr Said bin Khamis al Kabi chairman of PACP said the authority's role is to check unwarranted price hike.

He called on all suppliers to not manipulate the Council of Ministers' decision and not raise prices of goods and services without approval. Any price hike needs to be permitted by PACP. The current petrol prices in Oman are 114bz (regular) and 120bz (super) per litre.
UAE prices for January 2016

UAE began deregulating prices in August this year and the rates change every month. UAE's ministry of Energy has tweeted that the prices in January will be as follows: Gasoline Special 95 for AED1.58 a litre from its pre-deregulation price of AED2.14 about 26 per cent down.

Super 98 will be about 25 per cent cheaper down from AED2.25 a litre to AED1.69.

E-Plus will be available at AED1.51 a litre 27 per cent less expensive compared to AED2.07 five months ago.

Diesel will be AED1.61 per litre.

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