KD 70 million saved after implementing new fuel prices

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KUWAIT CITY: By lifting the subsidies on fuel, the country has managed to save KD 70 million in its third month since the decision to implement new fuel prices came into effect, reports Annahar daily quoting trusted governmental sources.

They revealed that the use of Premium type (regular 91) has increased by at least 50 percent after the new fuel prices were enforced.

The sources said the money saved in the past three months — from September to November— was beyond expectation, adding that the increase in the use of ‘regular 91’ type of fuel was also beyond expectation.

They indicated that the government is expecting to save more by lifting subsidies in the energy sector with the introduction of the new chips for electricity and water consumption which will come into effect from April 2017.

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