Petrol and diesel to cost more in May

  • April 30, 2019
  • internetQatar
  • 2 min read

Doha: Qatar Petroleum (QP) has increased the fuel prices for the month of May 2019. The price of super and premium petrol has jumped 15 dirhams.

Price of diesel will go up by 5 dirhams.

A statement on QP website showed that premium grade petrol will cost QR 1.95 in May, 15 dirhams more than April.

Super will be available for QR 2.00 in May, 15 dirhams more than April.

Diesel will cost QR 2.00 in May, 5 dirhams more than April price of QR 1.95.

QP had increased the petrol prices in April by 25 dirhams and in March by 5 Dirhams, while it was not changed in February. January saw a big drop in prices as premium and super grade petrol were cheaper by 30 dirhams.

When the first list was announced in June 2016 the premium petrol was QR1.20 per litre, super QR1.30 per litre and diesel QR1.40 per litre.

From April 2016, the Ministry of Energy and Industry had started pegging the fuel prices to the international market.

From September 2017, it is Qatar Petroleum who is announcing the monthly price list.

Qatar Petroleum (QP) is a state owned petroleum company of Qatar. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. QP’s chairman is Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry, and the chief executive officer is Saad Sherida Al Kaabi. QP’s operations are directly linked with state planning agencies, regulatory authorities, and policymaking bodies.

Together, revenues from oil and natural gas amount to 60% of the country’s GDP. As of 2018 it was the third largest oil company in the world by oil and gas reserves.

Gasoline and diesel usage and pricing

The usage and pricing of gasoline (or petrol) results from factors such as crude oil prices, processing and distribution costs, local demand, the strength of local currencies, local taxation, and the availability of local sources of gasoline (supply). Since fuels are traded worldwide, the trade prices are similar.

The price paid by consumers largely reflects national pricing policy. Some regions, such as Europe and Japan, impose high taxes on gasoline (petrol); others, such as Saudi Arabia and Venezuela, subsidize the cost.[1] Western countries have among the highest usage rates per person. The largest consumer is the United States, which used an average of 368 million US gallons (1.46 gigalitres) each day in 2011.