Supply and demand

In Oman, gasoline is the primary fuel used for on-road transportation. The country has abundant fossil fuel resources and produces two to three times more gasoline annually than it consumes.

According to the Ministry of Energy and Minerals, RON 91 gasoline production averaged around 2,390 million liters per year following 2017. However, production dropped to 1,594 million liters in 2020 due to the impact of the COVID-19 pandemic. Meanwhile, RON 95 production remained relatively stable, ranging between 1,900 and 2,000 million liters per year during the same period.

In 2023, Oman reduced its RON 95 gasoline production from 2,390 million liters in 2022 to 1,753 million liters, representing a 26.7% decrease compared to the previous year.

As for gasoline consumption, demand decli