The first local fuel marketing company announced the change in the prices of diesel, kerosene and gasoline in Kuwait. And that during January 2023
Oula Fuel Company announced a decrease in the price of gasoline (98-octane ultra) to 210 fils instead of 235 fils, while maintaining the price of premium gasoline – 91 octane at 85 fils and the special 95-octane at 105 fils (a dinar equals 1000 fils).
The company added, in a statement to the Stock Exchange, on Wednesday, that it had received a letter from the National Petroleum Company indicating the fuel prices that were approved by the committee to re-examine the various types of subsidies provided by the state.
The company stated that fuel produced (98 octane ultra) will be sold at a price of 210 fils per liter, from early January to March 31, 2023, compared to 235 fils per liter, from October 1 to December 31, 2022. At the same previous prices for gasoline 91 and 95.
Oula WOQOD confirmed in a statement that it will disclose any developments that may affect the company’s financial statements.
The profits of “Oula Fuel” increased in the first nine months of this year by 3.47% to 3.46 million dinars, compared to a profit of 3.34 million dinars during the same period of 2021.
Oil prices are falling
Oil prices fell on Wednesday evening, as investors assessed fears of an increase in the number of Covid-19 cases in China, the world’s largest oil importer, in exchange for chances of a recovery in fuel demand in the Asian country with the easing of pandemic restrictions there.
Brent crude futures fell $1.07, or 1.3 percent, to settle at $83.26 a barrel. West Texas Intermediate crude futures also fell 57 cents, or 0.7 percent, to $78.96 a barrel.