No plans to raise fuel prices again in Kuwait
The report also added that the Cabinet reviewed the decisions made in four Gulf Cooperation Council (GCC) states to increase fuel prices, but did not take similar steps. Reports were made by relevant oil officials about the reasons behind the price hikes in UAE, Qatar, Oman and Saudi Arabia, which came after implementing value added tax (VAT) in UAE and Saudi Arabia, noting that the increase was the second in the UAE and Oman, and the fourth in Qatar since four Arab states boycotted it seven months back.
Notably, fuel prices have gone up by 127 percent in Saudi Arabia and 3.9-4.2 percent in the UAE following a 20 percent increase in 2017. Oman increased fuel prices by 2-7 percent and Qatar increased it by 2.8-3 percent. The last time Kuwait raised fuel prices was in September 2016.