Oman reconsiders prices of fuel sale

Oman's Minister Responsible for Financial Affairs, Darwish Bin Ismail Al-Balushi, said here on Sunday that the Sultanate is looking at reconsidering local fuel sale, noting that government support has reached OMR 1 billion in the 2012 annual budget. Current prices have been determined since the 1980s, when global oil prices did not surpass USD 25 per barrel, Al-Balushi added in a press statement, indicating that since then; no changes have been made on local fuel prices, except for prices of diesel in 2006, noting that since the 1980s till present time; global oil prices have reached at the least four-times what it has been. Furthermore, he mentioned that the diesel smuggling issue has become a real concern for the Omani government, especially in light of what it consumes of a cost, time, and effort to watch and detain violators, which causes an additional burden on institutions concerned.