Latest News
- To Address Regional Issues, Kuwait Joins The OIC Summit
- Streets, Services, And Infrastructure To Be Developed In Shuwaik...
- Passports Of Kuwaitis Involved In Drug Crimes Abroad Revoked By...
- Right To Privacy And Respect For The Dead
- Compatriots Scam Egyptians
- Mother And Daughter Arrested For Prostitution And Extortion
- Two Male Nurses Break Bones In A Fistfight
- Former Minister Arrested On Arrival Over Graft
- Ministry Of Education Uncovers Salary Payments To Absentees
- Kuwait Banks Seek Clarity From Central Bank On Citizenship Revoc...
- Kuwait Organizes 30 Events To Protect Children From Tobacco Indu...
- Proposal For Residential City South Of 6.5 Ring Road Rejected Ov...
Fuel Price Rise To Tax Middle Income Families
With only two days left before the implementation of the new fuel prices an increase ranging from 42 to 60 percent, official sources said the middle income families will suffer the brunt of the price hike considering the estimated monthly expenses for fuel will be between KD 17 to KD 20.
Sources also denied the allegation that the government will compensate citizens by granting cash or coupons. Sources disclosed the prices will be revised every three months according to the international oil prices. Sources confirmed the Ministry of Commerce and Industry has been instructed to closely monitor the prices of other commodities in order to prevent unjustified price hikes.
Sources said a comprehensive survey on the prices of services and commodities has been carried out to compare them with the prices after the implementation of the new fuel prices. Sources added Kuwait Petroleum Corporation will lay down a mechanism which takes into consideration the regional and international prices of oil and this will be approved within one month.
The Cabinet’s decision to increase the prices of fuel by the beginning of September has caused anxiety among expatriates who have emphasized the fact that the problem is not the price hike per se but its repercussions. In an interview with the daily, several expatriates expect the fuel (benzene) price hike to result in higher prices of other commodities and services.
SOURCE : ARABTIMES
Trending News
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Ministry Announces Separate Time For Amnesty Seeke...
21 April 2024
-
The Ministry Connects With Violators Of Residency...
23 April 2024
-
AstraZeneca Admits Covid Vaccine Can Cause Rare Si...
29 April 2024
-
Work Permits Will Be Issued For One Year Under The...
27 April 2024
-
3 Expats Caught In Salmiya With 213 Bottles Of Loc...
23 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
-
Al-Nuer Festival Celebrates Kuwaiti Agriculture Wi...
22 April 2024
-
Peak-time 'cut-offs' Raise Fears Of An Electricity...
22 April 2024
-
Road Trip From Kuwait To Bahrain Via Saudi: Travel...
22 April 2024
Comments Post Comment