Kuwait Has The Cheapest Gasoline In The Gulf

According to data obtained from the "Global Petroleum Price" website, Kuwait ranked first in the Gulf in terms of cheap fuel prices, in addition to the fact that the price of fuel in Kuwait is lower than the global average, as the price of a litre of gasoline was 0.34 US cents, while the global average is $1.47, compared to the price of fuel in the UAE, which is three times higher than in Kuwait.

Kuwait, the Organization of Petroleum Exporting Countries' third largest producer, hiked gasoline prices for the sixth time this year to over $1.23 per litre, widening the gap with other oil producers in the area who subsidise the cost of fuel. While other oil-producing nations in the area subsidies gasoline to varied degrees, the UAE liberalized gasoline pricing in 2015, and its prices are currently three times what they are in Kuwait and more than double what they are in the rest of the Gulf.

It should be remembered that the high cost of gasoline forced Uber Technologies, a transportation business, to hike pricing twice this year in the UAE. According to data from the Global Petroleum website, the price of a litre of gasoline in the UAE is the highest and most expensive in the Gulf and is still trending upwards, according to Academic Abdul Khaliq Abdullah in a tweet published on Friday and reported by Bloomberg, but it is lower than the global average of $1.47, as the average cost of a litre of gasoline in the United States is $1.37, and $2.32 in the United Kingdom.

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