KUWAIT CITY, Sept 9: According to official data, the total gasoline bill for the cars of citizens and residents in Kuwait reached KD 453.23 million for the 2023/2024 fiscal year. During this period, 4.86 billion liters of gasoline were consumed, which is a slight decrease from the 4.89 billion liters consumed in the previous fiscal year. This reduction in consumption resulted in a decrease in total gasoline sales by less than one percent due to the decline in local market demand.

Regarding gasoline types and consumption in Kuwait for the 2023/2024 fiscal year, official data reveals the following:

Premium type of gasoline remains the most consumed, totaling approximately three billion liters with an annual sales value of KD 256.27 million, down from 3.04 billion liters in the previous fiscal year of 2022/2023.

Super type ranks second, with a total consumption of 1.81 billion liters valued at KD 190.15 million, compared to 1.8 billion liters in the prior fiscal year.

Ultra type came third with total consumption of 34 million liters and an estimated value of KD 6.8 million dinars, down from about 40 million liters in the fiscal year of 2022/2023. This brings the daily consumption rate of all gasoline types in the country to 13.3 million liters. Kuwait determines the gasoline prices every three months through a committee that reviews various types of state subsidies.

Currently, the prices are as follows:

Premium gasoline - 85 fils per liter,

Super gasoline - 105 fils per liter,

Diesel - 115 fils per liter,

Kerosene - 115 fils per liter.

In contrast, the price of Ultra gasoline is adjusted based on global oil prices. The most recent review saw a reduction of 8.8 percent, decreasing the price by 20 fils to 205 fils per liter, effective from July until the end of this month. The country’s annual consumption of kerosene is approximately 108 million liters, with sales valued at KD 12.4 million. This represents a significant 37 percent decrease compared to the previous fiscal year of 2022/2023 when consumption was about 172 million liters with a sales value of KD 19.78 million.