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Fri 6 Feb 2015 10:49 AM

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Dubai's ENOC plans to cut diesel prices again amid oil price slump

Emirates National Oil Company says prices will fall for fourth time in less than three months from Sunday

Dubai's ENOC plans to cut diesel prices again amid oil price slump

Emirates National Oil Company (ENOC) said on Friday it is to cut diesel retail prices by 6.4 percent to AED2.90 per litre as oil prices remain at five-year lows

The revised price is applicable across the entire service station network of ENOC/EPPCO from Sunday, the company said in a statement.

ENOC said it has reduced the price of diesel by an additional 20 fils (0.27 cents), the company's fourth price cut in less than three months.

Burhan Al Hashemi, managing director of ENOC Retail, said: "With oil prices recording a downtrend, we are constantly evaluating how we can pass on benefits to our customers. This also reflects our practice in ensuring that our customers receive good value at all times."

ENOC said it has also been leading the way in reducing the illegal trade of diesel that has been a rising industry concern for the last eight years.

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