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Bahrain to hike prices of diesel, kerosene

A Saudi man walks past a pump at a petrol station on December 28, 2015 in Jeddah as the kingdom decided to raise petrol prices by 50 percentBahrain on Monday announced plans to cut government subsidies for diesel and kerosene from next month, state media reported, after similar moves by its Gulf neighbours. BNA news agency cited Energy Minister Abdulhussein Merza as saying the changes would take effect from next month, adding however that subsidies would remain in place for bakeries and fishermen. Saudi Arabia on Monday said it has decided to raise petrol prices by 50 percent from Tuesday as part of subsidy cuts for petroleum products, power and water after posting a record $98 billion budget deficit for 2015.

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