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Bahrain hikes gasoline prices as part of subsidy cut plan

Xinhua, January 11, 2016 Adjust font size:

Bahrain announced on Monday it will start to increase the gasoline prices in the country as part of a government plan to cut subsidies on fuel.

The new prices will be effective as of Tuesday, Bahraini Energy Minister Abdulhussain Mirza told a press conference in Manama.

The premium gasoline will hike from 100 fils (0.27 U.S. dollars) per liter to 160 fils (0.43 dollars), and regular gasoline from 80 fils (0.21 dollars) per liter to 125 fils (0.32 dollars), the minister added.

The move will save about 65 million Bahraini dinars (173 million dollars) annually, he said.

The prices of diesel and kerosene had already increased by 20 fils (0.05 dollars) as of Jan. 1 to 120 fils (0.33 dollars) per liter.

In December, Bahrain announced plans to lift electricity and water subsidies as part of austerity measures. Endite