The Kuwait National Petroleum Company (KNPC) has lowered the prices of the liter of diesel and kerosene to 110 fils and announced the new prices would be applied as of February 1, KNPC spokesman Khaled Saleh Al-Asousi said.
In a statement to KUNA on Wednesday, Al-Asousi, also the KNPC Deputy CEO for Support Services, said the new prices were determined according to the decision by the subsidies committee at the Ministry of Finance and in light of the developments of current oil prices in the global markets.
He said that KNPC is working hard to apply the new prices at the beginning of February, adding the new prices will be seen at all fuel stations nationwide.
The new prices of diesel and kerosene go always in line with the prices in the global markets and will be revised monthly according to the prices at these markets, he stressed.