They say the study should address the consequences of redirecting subsidises, its misuse and provide recommendations on who should benefit.
Oil and Gas Affairs Minister and National Oil and Gas Authority (Noga) chairman Dr Abdulhussain Mirza also stated that Bahrain could no longer indefinitely maintain high fuel subsidises and that they should be redirected to benefit the most needy.
Al Menbar MP Mohammed Al Ammadi said the bloc did not agree with the random removal of subsidises.
He said a study was needed to give a clear picture about the consequences of redirecting subsidises.
"Subsidises are taking a lot of money from the general budget, but we need a study to have a clear idea and at the same time the subsidy needs to go to the right people," he said.
Mr Al Ammadi said he didn't think redirecting subsidises would stop investors from coming to the country because Bahrain had other benefits to offer.
Al Wefaq MP and economist Dr Jasim Al Husain said he did not support the idea of scrapping subsidises, which were currently applied to food, utilities and petroleum products.