Kuwait Spends 460 Million Dinars On Gasoline In A Year

Kuwaiti citizens and residents spent around 460 million dinars during the fiscal year 2022/2023 on car fuel, with a total consumption of approximately 4.89 billion liters of various gasoline types, including premium, private, and ultra.

A 9.5% increase in Kuwait's citizens' and residents' automobile fuel consumption is estimated, amounting to 426 million liters. From April 2022 to March 2023, the total consumption was 4.89 billion liters, averaging 13.5 million liters per day. Comparatively, 4.465 billion liters were recorded in the previous fiscal year (April 2021 to March 2022).

Fuel consumption for cars increased by 9.5% in one year to reach 4.89 billion liters by the end of 2022/2023, compared to 4.46 billion liters the previous year.

A total of 3.042 billion liters of 91-octane gasoline were consumed during the last fiscal year, an increase of 8.7%. Citizens and residents spent 258.6 million dinars on this type of fuel in fiscal year 2022/2023, compared to 237.88 million dinars in fiscal year 2021/2022.

There has been a consistent increase in the sale of premium gasoline, which makes up 62% of gasoline sales in Kuwait. Since the government raised prices in September 2016, its consumption has more than tripled. Premium gasoline consumption reached about 731.4 million liters in the fiscal year 2015/2016, doubling to about 1.66 billion liters in the following fiscal year, 2016/2017, and ultimately reaching a record 3 billion liters in the last fiscal year.

Over the last fiscal year, 1.8 billion liters of private fuel (95 octane) was consumed. Expenditure on this type of fuel amounted to about 189.9 million dinars in 2022/2023, compared to 169.5 million dinars in the same period in 2021/2022.

During the 2014-2015 fiscal year, private gasoline consumption amounted to 3.233 billion liters per year. After fluctuating, it began rising again in the period from 2021/2022, reaching 1.6 billion liters, and in 2022/2023, consumption reached 1.8 billion liters. Despite this increase, gasoline 95 consumption has declined by about 46% over the past seven years compared to the end of 2015/2016.

From April 2022 to March 2023, "Ultra" gasoline consumption declined by 23.2%, reaching about 40 million liters, down from April 2021 to March 2022.

In 2014/2015, Ultra fuel consumption reached about 94.3 million liters, increased to 97.1 million liters in 2015/2016, and gradually declined thereafter.

Until December 31, 2023, premium gasoline will cost 85 fils per liter, private gasoline will cost 105 fils per liter, and ultra gasoline will cost 250 fils per liter.

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