Will provide 30% of the consumption of Saudi Arabia if approved
Standardization of fuel prices in the Gulf States to control smuggling
The Petroleum Ministers of the Gulf Cooperation Council GCC Review, next Tuesday, the steps taken to prepare a study to develop a mechanism to standardize the prices of petroleum products in the markets of the Member in the Council, during the meeting of the Petroleum Cooperation Committee at the GCC secretariat in Riyadh. In this regard, as the oil expert Dr. Rashid Abanumay said to ' economic ', yesterday, to contribute to the standardization of prices of petroleum products in the Gulf States-if-in approximately 30 per cent of the total consumption in Saudi Arabia who's been smuggled and leaked to the neighboring States more expensive in temptation for the price difference.
He suggested that maybe the unification of prices will be after running public transport inside and outside cities, pointing out that the standardization of prices means height in some Gulf States that support the weak oil prices, what makes the consumer seeks to rationalize consumption and use less expensive. The Ministers will discuss a number of topics relating to joint action in the field of petroleum cooperation, draft regulations of the mining system in GCC States, in addition to a report on the meetings of the energy group of the Arabian Gulf, and the outcome of the meetings of the group with economic partners of States and economic groupings.
The meeting will deal with the report on the follow-up of developments in the meetings of the United Nations Framework Convention on climate change and the Kyoto Protocol, will also address the strategic petroleum updated summary of GCC States and consideration of the recommendations of the first Gulf oil Media Forum, topics team energy cooperation Council, the World Trade Organization and free trade agreements.