MIDDLE EAST

Mideast oil prices: The party is not over yet

Previously, the West used to make fun of us every time the oil prices fell. Their media used to beam that the “party is over” for the Arabs.

With these rapturous outbursts, they hoped for the end of an era where we made money-selling petroleum and it was finally the time for us to taste poverty. However, thanks to God, each time this happens, oil prices rebounded or even rose higher after a slowdown for a limited period. As a result, the party did not end for us, whether the West liked it or not.

Under the current circumstances in the Kingdom, the West is going to sing the same refrain repeatedly along with some of their lackeys. Following the planned increase in the local prices of gasoline, diesel and cooking gas, they will now start talking about us struggling under heavy price increases and inflation.

Previously, the West used to make fun of us every time the oil prices fall. Their media used to beam that the “party is over” for the Arabs.

Talal Al-Gashgari

I want to say to them, please hold on and be patient. The party is not over yet. That is because the actual reason for the price increase was to lay the foundation for a new era of national transformation wherein we fix the mistakes of the past and head for a better start. In addition, it is a fact that the government has created the Citizen’s Account to compensate low-income people whatever they lose because of the rise in fuel prices. So only the rich people who can actually adapt to the rise are the ones who are going to pay. Also, keep in mind that the prices of petrol in the Kingdom would still be less compared to the rest of the Gulf countries.

Who knows what a great impact this increase could have on society, even though many of us do not like it? Why not start limiting our high consumption of petrol, which in any away is harmful to the environment? Whenever we face some increase in prices, we seriously need to think not just of the immediate consequences but also of the positive impact this will have on our country and us in the long run.

This article was first published in the Saudi Gazette.

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Talal Al-Gashgari is an op-ed writer in Saudi newspapers such as Al -Madinah. You can follow him on Twitter @t_algashgari.

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Last Update: Friday, 20 October 2017 KSA 08:05 - GMT 05:05
Disclaimer: Views expressed by writers in this section are their own and do not reflect Al Arabiya English's point-of-view.
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