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Oil Fuel Fund Committee freezes retail oil prices amid Middle East tensions
AI In-brief 12 Sept 08:48

Oil Fuel Fund Committee freezes retail oil prices amid Middle East tensions

  • The Oil Fuel Fund Executive Committee froze retail prices for all fuel types to mitigate the impact of soaring global oil prices on the cost of living.
  • This price volatility is primarily driven by escalating Middle East conflicts threatening supply chains and existing production cuts, prompting the committee to deliberate long-term relief measures and urge energy conservation.
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