Qatar to link fuel prices to global market

OREANDA-NEWS. May 04, 2016. Qatar will reform its fuel subsidy scheme by linking prices to the global market, the energy ministry says. Proposed prices will be based on a formula that accounts for "changes in the prices of petroleum products in the global market, and operational costs related to the production and distribution of fuel in the local market, as well as fuel prices in the countries of the region".

Lower oil prices have depleted Mideast Gulf oil exporters' revenues, sharply widening their budget deficits and pressuring their credit ratings.