Kuwait raises domestic gasoline prices after subsidy cut

摘要

The Kuwaiti government raising the prices of gasoline Thursday for the first time in decades, the latest country in the region to raise product prices amid falling oil export revenues. Reforms had been resisted up to now but the government has overcome political opposition to subsidy reform. An earlier attempt at implementing cuts failed due to opposition from sections of the parliament. Now the government has followed through on its announcement from early August.