UAE's Ministry of Energy removed the subsidy on petrol and diesel prices in 2015
UAE petrol prices are set to increase from Sunday, following the Ministry of Energy’s latest release of prices for October.
The government department said the price of Super 98 will rise 5 percent to AED2.12, up from AED2.01. Special 95, the most popular fuel type, will rise by 6 percent to AED2.01 up from AED1.90. The price of E-Plus will increase to AED1.94 from AED1.83.
The price of diesel is also set to increase 5 percent to AED2.10.
In July 2015, the UAE’s Ministry of Energy announced removal of subsidy on petrol and diesel prices, with market-linked prices starting from August 1, 2015.
The price increase reflects the rising global benchmark of crude oil, which is currently trading at $58 per barrel, up by almost 12 percent on last month.