Alwaght- Petrol prices in Bahrain, Saudi Arabia and some other Persian Gulf States were have been increased as part of the effort of the monarchies to boost revenues hit by slumping oil prices and involvement in regional conflicts.
The Bahraini regime’s cabinet said in a statement carried by state news agency BNA on Monday that its weekly meeting set the new price for super fuel at 160 Bahraini fils ($0.424) per litre from 100 fils, while the price for regular fuel would be raised to 125 fils per litre from 90 fils. The new prices will take effect on Tuesday.
Like other Persian Gulf oil-exporting states, Bahrain has for many years subsidized goods and services such as food, fuel, electricity and water, keeping prices ultra-low in an effort to buy loyalty for the ruling monarchy.
But since its oil income began to fall last year, the Aal Khalifa ruling regime’s budget deficit has widened and the subsidies have become much harder for Bahrain to afford.
Meanwhile the Saudi regime has revealed a series of fuel-related subsidy reforms to lower current expenditures and bolster the monarchy’s finances dented by the downturn in global oil prices and direct involvement in destabilizing regional countries including Syria and Iraq by financing terrorist groups and engaging in an endless and brutal aggression against Yemen.
The new measures imposed by the Saudi regime on the kingdom’s poor citizens include a 50 per cent increase in higher quality 95-octane petrol prices, a 66 per cent increase in lower quality 91-grade petrol prices, and a 74 per cent increase in diesel fuel prices.
Saudi Arabia is particularly vulnerable to oil price declines because oil and gas-related revenues have historically accounted for around 90 per cent of government revenues.
Experts say the recent escalation in geopolitical tensions with Iran following the fallout from the execution of a prominent Islamic scholar Sheikh Nimr Baqir alNimr in Saudi Arabia will likely add to fiscal pressures.
The warmongering Saudi regime’s 2016 budget has allocated 25 per cent of its spending on military and security services alone, much higher than the US at around 15 per cent of total government spending.
The Saudi regime has been blamed for destabilizing global oil market by pumping more crude and driving the prices to record lows.
Saudi Arabia in 2015 increased production by 1.5 million barrels per day, thus effectively destabilizing the situation on the market.
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In Focus
Ansarullah
A Zaidi Shiite movement operating in Yemen. It seeks to establish a democratic government in Yemen.
Shiite
represents the second largest denomination of Islam. Shiites believe Ali (peace be upon him) to be prophet"s successor in the Caliphate.
Resistance
Axis of Resistances refers to countries and movements with common political goal, i.e., resisting against Zionist regime, America and other western powers. Iran, Syria, Hezbollah in Lebanon, and Hamas in Palestine are considered as the Axis of Resistance.
Persian Gulf Cooperation Council
A regional political u n i o n consisting of Arab states of the Persian Gulf, except for Iraq.
Taliban
Taliban is a Sunni fundamentalist movement in Afghanistan. It was founded by Mohammed Omar in 1994.
Wahhabism & Extremism
Wahhabism is an extremist pseudo-Sunni movement, which labels non-Wahhabi Muslims as apostates thus paving the way for their bloodshed.
Kurds
Kurds are an ethnic group in the Middle East, mostly inhabiting a region, which spans adjacent parts of Iran, Iraq, Syria, and Turkey. They are an Iranian people and speak the Kurdish languages, which form a subgroup of the Northwestern Iranian branch of Iranian languages.
NATO
The North Atlantic Treaty Organization is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949.
Islamic Awakening
Refers to a revival of the Islam throughout the world, that began in 1979 by Iranian Revolution that established an Islamic republic.
Al-Qaeda
A militant Sunni organization founded by Osama bin Laden at some point between 1988 and 1989
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Saudi Arabia, Bahrain Raise Domestic Fuel Prices Amid Simmering Economic Crisis
