For the third time in 2010, the government has increased the prices of oil derivatives and the increase this time was by 11 per cent.
According to a statement circulated by the Yemen Petroleum Company, the company approved increasing the price of petrol by 75 riyals per liter and the price of kerosene by 50 riyals per liter.
The circulation was distributed to all filling stations, but no justifications for the increase were given.
In February, the government approved a 100-riyal increase in the prices of oil derivatives, saying the move was aimed at supporting the governmental investment projects in this sector.
In May, the prices of petrol and diesel rose by 5 riyal per liter, but until this moment, there has not been an official explanation of increasing the prices.
On the other hand, the Ministry of Oil and Minerals said on Tuesday it had decided to increase oil production during the coming period after new oil discoveries were announced and more exploration processes were carried out.
In a press release, Minister Amir Al-Aidrous said the oil sector in Yemen is developing and there is no depletion of oil.
The ministry plans to produce oil at one or two new oil fields and to invite world companies to invest at them, he said.