So by now, you should all have learned that as of the 15th January 2016, the price of petrol and diesel here in the Sultanate is going to increase. I understand that the prices are going to be revised monthly, just like they are in the UAE.
Regular is increasing 22.8% from 114bz/litre to 140bz, Super is increasing 33.3% from 120 to 160bz and Diesel is increasing 9.6% from 146 to 160bz/litre.
How does this compare to pricing up in the UAE, which is set on world market rates?
Regular: 158bz/ Special: 166bz/ Super: 177bz/ Diesel: 169bz/
It should be noted that Super grade fuel in Oman is comparable to Special grade fuel in the UAE (Super in Oman has an Octane of 95, whereas Super in the UAE has an Octane of 98).
This is with oil prices at somewhere around $32.60 a barrel for West Texas (March 2016 delivered Omani oil is trading somewhere around $29 a barrel).
It's also worth pointing out that the 2016 budget has been set on an average price of $45 a barrel.
Next up, I suspect we'll see Electricity and Water prices rise. While it's true that the LPG supply price to industrial customers was increased by the Ministry of Oil and Gas on Jan 1, 2015, this price was passed onto the distributors (eg MEDCO) who have not yet increased their rates to their customers. I'm guessing this increase will happen next....
Mind you, I'm still quite pleased that Super grade fuel here in Oman is just 41.5 cents / 28.5 pence a litre!