The price of petrol in the UAE is set to increase from Friday next.
The Ministry of Energy, in its monthly bulletin, announced that the price of Special 95 – the most popular grade of petrol used in the country – will increase by just over six percent to AED2.04 (up from AED1.92).
The price of the higher grade Super 98 will also increase on Friday to AED2.15, up just under six percent from the November price of AED2.03.
E-Plus will be priced at AED1.97, up from AED1.85, and diesel will cost AED2.20 per litre, up 4 percent from November’s AED2.11 price.
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.
For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.