
On Saturday, the Fuel Pricing Committee announced the new fuel price list effective for February 2026. The new rates feature significant reductions, led by kerosene, which dropped by 4 piasters (40 fils) per liter. This move follows government directives aimed at easing the financial burden on citizens during the winter season and the upcoming holy month of Ramadan.
Decision Rationale: The decision was made during the committee's monthly meeting, which reviewed global oil prices for January. The review showed a global decline in gasoline prices and stability in diesel rates. The committee reflected these global trends locally, prioritizing a deeper cut for kerosene to support citizens' purchasing power as fasting coincides with the cold weather.