Residents welcome new fuel prices for the month of March

Muscat: Residents can heave a sigh of relief as fuel prices for March have been dropped, according to an announcement by the Ministry of Oil and Gas. The prices had been rising continuously over the last few months.
Now, M91 fuel will cost consumers 205 baisas per litre, down from 207 baisas per litre, with the ministry having removed the cap of 186 baisas per litre at the beginning of the year. M95 fuel is now priced at 216 baisas per litre, down from last month’s 218 baisas per litre.
Also, the price of diesel will now be 238 baisas per litre, down from 244 baisas.
Resident expatriates welcomed the reduction in prices, though most said the prices did not affect them anymore.
“It’s just paying a few baisas up or down. Doesn’t really matter, if you pay OMR10 to fill your tank or OMR11. I think people in Oman are getting used to these prices and we are quite happy to continue paying these prices,” Ashfaq Ahmed, an Indian expat, said.
On the other hand, Madanlal, another Indian expat, said: “We are happy that prices have gone down, even if just a little bit. The last few months have seen them rise so much, especially for M91, which was capped. At least we know that we will be paying these prices for some time now, so it’s fine. The prices here are still one of the cheapest in the world, so no one can complain.”
Oman had launched a National Subsidy plan to help low income groups in the Sultanate. Under the plan, registered individuals can receive up to 200 litres of fuel at the price of 180 baisas. This has allowed low-income groups and fishermen to continue their businesses without them getting harshly affected.
Transport companies with a fleet of diesel vehicles, on the other hand, have been very affected after the prices of fuel rose from 140 baisas in 2015 to 244 baisas last month. Prices have now fallen to 238 baisas but transport companies still feel the pinch.
“There is a negative effect on our business for obvious reasons. If diesel costs go up, so do transport costs. But, our selling price cannot go higher as companies will no longer be willing to use our services, especially now when most companies are trying to rationalise expenditures. So, we have to consume the rising costs by slimming our margins,” the director of a transport company said.