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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Price of M91 frozen at 186 baisa

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By Zainab Al Nasseri — MUSCAT: FEB. 28 - The price of M91 — the most popular grade of motor fuel consumed in the Sultanate —remains unchanged at 186 baisa per litre in revised fuel prices announced by the Ministry of Oil & Gas for March 2017. The price freeze appears to be in keeping with a decision of the Council of Ministers last month to cap the floating price of M91 at the February level until that an equitable mechanism was found to alleviate the impact on low-income sections of the general population.


That decision by the Council of Ministers came in the wake of a spike in fuel prices that saw diesel beach the psychologically significantly 200-baisa per litre mark to reach 206 baisa for February.  M91 too soared to 186 baisa per litre for the first time since fuel subsidies were rolled by the government a year earlier. In revised fuel prices announced by the Ministry for March 2017, M95 and diesel will hit new highs of 198 baisa and 208 baisa per litre respectively.  This compares with prices of 196 baisa and 205 baisa per litre respectively in February. Meanwhile the price of Oman crude declined 44 cents to reach $55.12 per barrel in trade on Tuesday.


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