SANA'A, Sep.03 (Saba)- The Cabinet, in its meeting on Wednesday chaired by President Abd Rabbo Mansour Hadi, approved to reduce the selling prices of fuel in the domestic market 25 rials per liter.
The Cabinet agreed to amend its decision No. 143 for the year 2014 on correcting the prices of oil derivatives through reviewing ways of buying the oil derivatives from the global markets so as to improve prices, including entering into long purchase contracts between six months to a year, as well as reviewing the cost added to the international price.
Accordingly, the selling prices of petrol and diesel in the domestic markets will become 175 rials per liter of petrol and 170 rials per liter of diesel.
In this regard, the cabinet agreed to postpone the collection of the general sales tax and the fees of customs and the fund of roads and bridges maintenance, which are additional costs on the prices of the diesel and petrol and are being audited.
The cabinet confirmed that the new pricing will be applied as of midnight on Wednesday.
The government's decision was based on the initiative presented on Tuesday by the Presidential Committee that was tasked to negotiate with Abdulmalik al-Houthi to end the current standoff due to the Houthi escalation. The initiative was discussed and approved by a wide-range assembly with members of the government, Parliament and Shura Council, representatives of political parties and civil society organizations, and social figures in Sana'a under the chairmanship of President Hadi.