Qatar follows other Gulf countries in raising petrol prices

Qatar Friday became the latest Gulf country to raise domestic petrol prices as low oil and gas prices have put pressure on state finances in the region.

The state-owned Qatar Fuel Company announced late Thursday petrol prices will be increased by 30 per cent to 35 per cent per litre depending on the brand of the fuel, the official news agency reported.

The new prices went into effect in the gas-rich country Friday morning, according to the report.

The move comes a day after Al Jazeera America, the US cable news channel of the Qatar-based Al Jazeera television network, said it would terminate all news operations at the end of April, saying the network's business model was "not sustainable."

In recent months, several Gulf countries, including Saudi Arabia, the United Arab Emirates and Bahrain, raised local pretrol prices as their governments are struggling with finances as a result of a plunge in oil prices.

There has been discussion in the region on finally introducing some taxes, such as sales tax.

Last update: Fri, 15/01/2016 - 21:17
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