Fuel costs for Kuwait’s citizens and residents reach KD 453.23 million

• Premium gasoline continues to account for the largest share of consumption in Kuwait, with around three billion liters consumed and an annual sales value of KD 256.27 million.

• The country’s annual consumption of kerosene is approximately 108 million liters, with sales valued at KD 12.4 million.

• While Kuwait reviews gasoline prices quarterly, with premium and special gasoline fixed at 85 fils and 105 fils, Ultra gasoline prices fluctuate with global oil markets.

The gasoline expenses for cars of citizens and residents in Kuwait across its three types totaled KD 453.23 million in the 2023/2024 fiscal year. During this period, 4.86 billion liters of gasoline were consumed, slightly down from 4.89 billion liters in the previous fiscal year. This led to a reduction in total gasoline sales by less than 1%, driven by a decrease in local market demand, according to Al Anba newspaper.

Regarding the types of gasoline and their consumption in Kuwait during the past fiscal year 2023/2024, data revealed that premium gasoline continues to account for the largest share of consumption in the country, with around three billion liters consumed and an annual sales value of KD 256.27 million, compared to 3.04 billion liters in the fiscal year 2022/2023.

Special gasoline ranked second, with total consumption of 1.81 billion liters, valued at 190.15 million dinars, compared to 1.8 billion liters in the previous fiscal year. Ultra gasoline came in third, with a total consumption of 34 million liters and an estimated value of KD 6.8 million, compared to 40 million liters in 2022/2023. Thus, the daily consumption rate of various types of gasoline in the country is 13.3 million liters per day.

Notably, Kuwait determines gasoline prices every three months through a committee that reviews the various types of state-provided subsidies. The prices of premium and special gasoline remain fixed, with premium priced at 85 fils, special at 105 fils, diesel at 115 fils, and kerosene at 115 fils.

Meanwhile, the price of ultra gasoline is adjusted according to global oil prices. In the last review, its price was reduced by 8.8%, or 20 fils, to 205 fils, effective from last July until the 30th of this month.

The country’s annual consumption of kerosene is approximately 108 million liters, with sales valued at KD 12.4 million. Notably, kerosene consumption has seen a significant decrease of about 37% in sales, down from 172 million liters in the previous fiscal year 2022/2023, which had a value of KD 19.78 million.

Kuwait Petroleum Corporation is the sole supplier of all types of fuel in Kuwait. The corporation is committed to implementing its strategy by providing a mix of fuels that are both economically and environmentally optimal to meet the country’s current and future energy needs. Additionally, it aims to offer strategic alternatives and works to maximize the use of traditional, alternative, renewable, and other energy sources.

Fuel supplies for electricity

The Petroleum Corporation also meets the Ministry of Electricity, Water, and Renewable Energy’s requirements for all types of fuel needed to operate gas and steam turbines for energy generation in Kuwait. During the fiscal year 2023/2024, the ministry’s energy demand amounted to approximately 800.44 billion British thermal units, representing a 5% increase over the previous year’s needs.

The average quantities of liquid and gaseous fuel supplied to power and water stations during the past fiscal year were as follows: 342.57 billion British thermal units of liquefied natural gas, 172 billion British thermal units of lean gas, 238.6 billion British thermal units of fuel oil, 16.4 billion British thermal units of gas oil, and 30.7 billion British thermal units of crude oil.

The corporation periodically negotiates with LNG suppliers to secure long-term import contracts, aiming to meet local needs with the highest efficiency and at the lowest possible cost. LNG is received at the permanent import facilities in the Al-Zour area, which includes eight storage tanks—among the largest in the world—as well as two berths for receiving LNG tankers. Recently, the country signed a long-term agreement with the State of Qatar to import LNG for the next 15 years.

It is also worth noting that all steam turbines at the power generation stations operated by the Ministry of Electricity, Water, and Renewable Energy have been converted from heavy fuel oil to low-sulfur fuel oil produced at the Al-Zour refinery. Low-sulfur fuel oil is a cleaner and more efficient fuel than heavy fuel oil, leading to reduced harmful emissions and improved air quality.

17.35 million cylinders of cooking gas

The production rate of liquefied gas (cooking gas) cylinder filling factories in the Shuaiba and Umm Al-Aishareas reached approximately 17.35 million cylinders of various sizes during the fiscal year 2023/2024. Meanwhile, the distribution of gas cylinders used in homes (12 kg size) amounted to about 16.53 million cylinders.

The production at the gas cylinder factories saw a 5% increase in 2023/2024, reaching 17.35 million cylinders, compared to 16.51 million cylinders in 2022/2023.

Similarly, the distribution of gas cylinders to consumers increased by 6%, reaching 16.53 million cylinders in 2023/2024, compared to 15.61 million cylinders in 2022/2023.

148 gas stations by 2028

Kuwait Petroleum Corporation, through its subsidiary Kuwait National Petroleum Company, provides fueling services to citizens and residents across various regions of Kuwait by constructing gas stations that cater to local needs.

In line with this, the company continues to implement its strategic plan to build new gas stations to keep pace with urban and population growth throughout the country.

The design of these new stations represents a significant advancement, featuring modern architecture and technological innovations that offer multiple services with ease and convenience, while also being environmentally friendly.

In this context, a temporary fuel station was opened at the entrance to Al-Mutlaa Residential City in the north of the country. As a result, the total number of fuel stations has reached 67 (61 permanent stations and 6 mobile stations). The company aims to increase this number to 148 stations by 2028 and 229 stations by 2040.

It is also worth noting that the local private sector owns 42 fuel stations under Al-Sour Company and 43 stations under Al-Oula Local Fuel Marketing Company.