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Yemen: YPC postpones price rising decision
(MENAFN) Following the province-wide protests, Yemen Petroleum Company (YPC) postponed its price rise on locally-manufactured oil derivatives, Anadolu Agency reported.
In a statement, the provincial Maarib office of the company said: "It was decided to postpone the implementation of the new price list on the petroleum products given the life conditions in the province and the increasing number of domestic migrants."
It also added that the postponement came after the instruction of the province's governor Sultan al-Arade.
Earlier on Monday, YPC raised its prices for locally-manufactured oil derivatives -including gasoline and diesel fuel - by more than 30 percent in the Maarib, Hadhramaut, Al-Jawf and Shabwa provinces.
It attributed the move to rising international oil prices and increasing production costs.
The ongoing conflict in Yemen, which began almost four years ago, has had a profoundly negative impact on the national economy.
In a statement, the provincial Maarib office of the company said: "It was decided to postpone the implementation of the new price list on the petroleum products given the life conditions in the province and the increasing number of domestic migrants."
It also added that the postponement came after the instruction of the province's governor Sultan al-Arade.
Earlier on Monday, YPC raised its prices for locally-manufactured oil derivatives -including gasoline and diesel fuel - by more than 30 percent in the Maarib, Hadhramaut, Al-Jawf and Shabwa provinces.
It attributed the move to rising international oil prices and increasing production costs.
The ongoing conflict in Yemen, which began almost four years ago, has had a profoundly negative impact on the national economy.
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