MUSCAT: The volume of fuel subsidies for the current financial year will exceed OMR 600 million after the government capped the prices, according to His Excellency Sultan bin Salem Al Habsi, Minister of Finance.
Last year, His Majesty Sultan Haitham bin Tarik issued directives to cap vehicle fuel prices at the October rates until the end of 2022, providing relief to consumers following a spike in oil prices.
“Since this was not planned within the budget earlier, the fuel subsidies could go beyond OMR 600 million,” Al Habsi said on Wednesday.
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