The Gulf states are coping with notable success the challenges from a low oil price environment, which had seen a drop by more than two-thirds since mid-2014. As such, authorities opted for adjustments rather than give in to the changed circumstances.
Thus, the price of premium petroleum products was increased by 60 per cent to $0.42 per litre. Much to their surprise, drivers and owners of cars merely had nine hours to adjust to the new pricing.
Qatar raised petrol prices at the retail level by 30 per cent, while the UAE adopted a formula of revisiting retail prices for petroleum products on a regular basis taking into account prevailing prices.
Concerning fees, passengers using the Dubai Airports will apply a charge $9.5 on all, including transit passengers starting June 30. The collected tax, currently projected at $700 million, would be used for the purpose of airport expansion. In fact, such a practice is common in airports elsewhere, though not necessarily within the region
Share this:
