After numerous meetings regarding the recent increase of fuel prices in the country, the legislative and executive authorities have decided to subsidize 75 liters of fuel every month for Kuwaitis, National Assembly Speaker Marzouq Al-Ghanim confirmed on Tuesday.
The 75 liters' endorsement is an equivalent of 30% of the fuel price increase that came into effect last month. Al-Ghanim made this remark after the two authorities met at the Parliament to discuss fuel subsidy cut that was decided upon by the Government as a step to rationalize subsidies and improve the country's budget deficit.
Prior to the meeting at the Parliament, the presidents of the two authorities had met with His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to share with him prevailing points of view on this matter.
Al-Ghanim said that today's meeting took into considerations the Parliament's economic committee concerns that stressed, "Kuwaiti citizens should be compensated for any fuel price increase." Liberating subsidies on fuel price does not link them with international fuel rates, Al-Ghanim said, however, it means that the state's subsidies committee will review prices every month to economize not only the state's budget but also the citizen's consumption that reached 240 liters of fuel per month.
On September 1, consumers started paying 85 fils per liter for Octane 91, up from 60 fils, 105 fils for Octane 95 instead of 65 fils and 165 fils for Ultra-Premium, up from 90 fils.