Emirati company raises prices of oil derivatives for Socotra residents

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The Emirati company, ADNOC, imposed on Monday a new increase in the prices of oil derivatives for the residents of the Yemeni island of Socotra.

Sources familiar with the matter in Al Jazeera reported that the company raised the price of gasoline from 37,000 riyals to over 39,000 riyals, in addition to another increase in the price of local cooking gas.

The sources confirmed that the Emirati increase sparked great dissatisfaction and anger among Socotra’s residents, as they considered that “the increase in fuel prices aims at doubling the suffering of citizens without any concern from the coalition-backed government.

The sources pointed out that the continuous increase in oil and gas prices comes as a result of ADNOC’s monopoly on petroleum derivatives, cooking gas and electricity on the Yemeni island of Socotra.