Fuel prices for January go up

012145By Samuel Kutty — MUSCAT: Dec 31: Fuel prices in Oman were revised for the 13th consecutive month since prices were linked to the international market by Ministry of Oil and Gas on January 15, 2016. According to the new prices announced on Saturday, Mogas 91 (M91) will cost 176 baisas per litre and Mogas 95 186 baisas per litre. In December, the cost of M91 fuel stood at 165 baisas a litre. In November, it was 173 baisas a litre. Diesel will cost 195 per litre. In the last 12 months, sales of the cheaper regular petrol, which was renamed M91, jumped more than 240 per cent to 5.18 million barrels, even as super petrol sales dipped 24 per cent to 16.32 million barrels.

0-oil-barrel-002Gas oil sales too declined 8 per cent to 16.09 million barrels. In contrast, domestic sales of aviation fuel oil and LPG rose 14 per cent and 10 per cent respectively to 4.13 million bbl and 1.92 million bbl. Domestic sale of polypropylene decreased 44 per cent to 10,000 tonnes during the period.

At the same time, high-end M95 sales registered a 22 per cent fall. Many consumers prefer to fill their vehicles with M91 instead of super grade petrol (M95) given the price difference. The price of Super Grade was 176 baisas and in November, it was 183 baisas. In December, the price of diesel was 177. It was 187 baisas in November.

Meanwhile, data from National Centre for Statistics and Information showed that the production of regular petrol increased 224 per cent in the first 11 months of 2016, taking the output to 6.178 million barrels compared with figures for the same period last year (1.9 million bbl). However, production of M95 super petrol suffered a 25 per cent decline during the period, with output settling at 15.99 million barrels. Gas oil fell 2 per cent to 19.88 million barrels while LPG tanked 14 per cent to 2.87 million barrels, even as aviation fuel oil production went up 2 per cent to 4.68 million barrels.

In the petrochemical segment, benzene and paraxylene output surged by 45 per cent and 38 per cent respectively to 193,000 tonnes and 612,000 tonnes by the end of November 2016 compared with the last year figures, while polypropylene production dwindled 26 per cent to 123,000 tonnes. Export of gas oil fell by 92 per cent to 2,000 bbl, along with an 8 per cent decline in exports of aviation fuel oil at 959,000 bbl and a 35 per cent drop in LPG exports at 1.25 million bbl. Export of benzene and paraxylene went up 38 per cent and 22 per cent to 191,000 tonnes and 566,000 tonnes respectively while that of polypropylene dipped 32 per cent to 100,000 tonnes during the January-November period, compared with last year’s export figures for the same period.