Bahrain's Gas Prices: How Much Does It Cost?

Gasoline prices in Bahrain have been a topic of discussion for residents and the media, with the country experiencing fluctuations in fuel costs over the years. After maintaining steady fuel prices for 33 years, Bahrain witnessed a notable increase in gasoline prices in 2016, attributing this change to the global dip in oil prices and necessary economic reforms. This shift in pricing sparked interest in understanding the current costs of gasoline in the country and how they compare to previous years and global averages. As of October 21, 2024, the gasoline price in Bahrain stands at BHD 0.20 per liter or USD 0.53 per liter, which is lower than the global average of USD 1.19 per liter. With these recent updates, it is essential for consumers and businesses to stay informed about the evolving fuel landscape in Bahrain and its potential impact on their finances and operations.

Gasoline prices in Bahrain as of October 2024

As of 21 October 2024, the price of natural gas in Bahrain is 0.013 US dollars per kWh for both households and businesses. In comparison, the global price of natural gas for the same month is 0.078 US dollars per kWh for households and 0.069 US dollars per kWh for businesses.

As of 28 October 2024, the price of gasoline in Bahrain is BHD 0.20 per litre or USD 0.53 per litre. This is a stark contrast to the average global price of gasoline, which is USD 1.19 per litre.

The price of gasoline in Bahrain has not always been this low. In fact, in September 2023, the price of gasoline was 0.37 USD/litre, with a maximum price of 0.37 USD/litre and a minimum of 0.21 USD/litre.

Bahrain's gasoline prices remained unchanged for 33 years until 2016 when the country decided to link its fuel prices to the global oil prices. This resulted in a significant hike, with regular petrol prices increasing from 80 fils (20 cents) per litre to 125 fils (33 cents) per litre, representing a 56.3% increase. The more expensive super petrol also witnessed a price jump of 60%, going from 100 fils (27 cents) to 160 fils (42 cents) per litre.

The gasoline prices in Bahrain have a direct impact on the country's economy and the people's expenses. With the prices currently lower than the global average, it will be interesting to see how the market reacts and adjusts its strategies.

Gasoline prices in Bahrain compared to the global average

As of 21 October 2024, the price of gasoline in Bahrain was BHD 0.20 per litre or USD 0.53 per litre. In comparison, the average global price of gasoline was USD 1.19 per litre. This means that the price of gasoline in Bahrain is significantly lower than the global average.

Bahrain's gasoline prices have been relatively stable over the past decade. Between 2014 and 2024, the average gasoline price in Bahrain was BHD 0.18 per litre, with a minimum of BHD 0.10 per litre in 2014 and a maximum of BHD 0.20 per litre in 2018.

In 2016, Bahrain increased gasoline prices by more than 50%, citing the drop in global oil prices and structural economic and fiscal reforms as reasons for the change. This was a notable shift after 33 years of unchanged fuel prices in the country. The price of regular petrol increased from 80 fils (20 cents) per litre to 125 fils (33 cents) per litre, while super petrol prices rose from 100 fils (27 cents) to 160 fils (42 cents) per litre.

Despite these increases, gasoline prices in Bahrain remain well below the global average. This is partly due to the country's strong oil and gas industry, which allows for lower fuel costs for its citizens.

Compared to its neighbouring countries in the Middle East, Bahrain's gasoline prices are relatively competitive. However, it is important to note that gasoline prices are subject to change and can be influenced by various factors such as global oil prices, economic policies, and geopolitical events.

Unleaded Gasoline 95 prices in Bahrain

The price of unleaded gasoline 95 in Bahrain has been a topic of discussion and has undergone changes in recent years. As of October 2024, the price of gasoline in Bahrain is BHD 0.20 per liter or USD 0.53 per liter. This price is significantly lower than the average price of gasoline globally, which stands at USD 1.19 per liter.

In January 2018, the price of unleaded gasoline 95 (Mumtaz gasoline) in Bahrain was increased to 200 fils per liter, which equated to about USD 0.53 per liter at the time. This price change came after a decision to link the gasoline prices in Bahrain to the drop in global oil prices, as part of structural economic and fiscal reforms. Prior to this change, the price of regular petrol in Bahrain had been at 80 fils (20 cents) per liter. The increase in 2018 represented a 56.3% hike in the fuel price, placing a higher burden on consumers and businesses alike.

The National Oil and Gas Authority (NPRA) has played a role in setting gasoline prices in Bahrain, and they confirmed that the price of Mumtaz gasoline (95 octane) would remain unchanged at 200 fils per liter. This decision provided some stability for consumers, as the price was not subject to frequent adjustments.

However, it is worth noting that gasoline prices in Bahrain are subject to periodic reviews. The Saudi Aramco company, for instance, announced that they would be conducting monthly reviews of gasoline prices instead of quarterly reviews, starting in February 2020. These reviews can lead to fluctuations in the price of unleaded gasoline 95, depending on various factors, including changes in export prices from the Kingdom to international markets.

How the price of gasoline in Bahrain has changed since 2016

The price of gasoline in Bahrain has fluctuated since 2016, with several key moments influencing the cost at the pump.

In January 2016, the Bahraini government increased gasoline prices by more than 50%, with the regular petrol price jumping from 80 fils (20 cents) per litre to 125 fils (33 cents) per litre. This marked a significant shift, ending a 33-year period of stable fuel prices in the country. These changes were attributed to the global drop in oil prices and were part of broader economic and fiscal reforms.

Following this adjustment, the price of fuel in Bahrain remained stable throughout 2017, with the unleaded gasoline price sitting at 0.16 BHD per litre. However, the relative stability of fuel prices in the country was short-lived.

By 2018, gasoline prices had climbed again, reaching a new peak. On January 8, 2018, the price hit BHD 0.20 per litre, or USD 0.53 per litre. This represented a notable increase from the 2014 low of BHD 0.10 per litre.

Fast forward to 2024, and the price of gasoline in Bahrain as of October 21, 2024, is BHD 0.20 per litre or USD 0.53 per litre. This price is significantly higher than the 2014 low and remains at the highest level observed since 2014.

While there have been periods of stability and fluctuation, the overall trend since 2016 indicates a general upward shift in gasoline prices in Bahrain, influenced by global oil price changes and domestic economic policies.

How often are Bahrain's gasoline prices updated online

As of 21 October 2024, the gasoline price in Bahrain is BHD 0.20 per litre or USD 0.53 per litre. This data is updated weekly by GlobalPetrolPrices.com, which obtains its information from official government sources, regulatory agencies, petroleum companies, and major media sources. The website also provides a monthly update on Bahrain's gasoline price analytics.

The National Oil and Gas Authority also publishes monthly data on Bahrain's gasoline prices. According to their data, the gasoline price in Bahrain remained unchanged at USD 0.37 per litre in September 2023, with a maximum price of USD 0.37 per litre and a minimum of USD 0.21 per litre.

Therefore, it appears that Bahrain's gasoline prices are updated online at least monthly, if not more frequently, by various sources.

Frequently asked questions