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Mon 29 Dec 2014 01:25 PM

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Emarat cuts price of diesel for second time in two weeks

Company says price per litre will drop to AED3.10 from December 30 amid global oil price slump

Emarat cuts price of diesel for second time in two weeks

Emirates General Petroleum Corporation, also known as Emarat, said on Monday it will lower diesel prices by 20 fils (0.27 cents) a litre across all its service stations from December 30.

The new diesel price will be AED3.10 per litre, down from AED3.30 a litre, Emarat said in a statement.

Emarat said it is revising the price of diesel in line with the international price trends for crude and refined products, said Hussain Kazim, senior manager, Corporate Communications at Emarat.

He added: "The recent decline in international prices has provided us an ideal window of opportunity to pass on the price benefits to diesel users.

"The price decrease will have a positive impact on the overall economy, given the vital role that diesel plays in the logistics sector."

He said the price revision is expected to benefit the manufacturing sector and other supply companies with large fleets that use diesel.

It is the second price cut by Emarat this month, having previously reduced the price of diesel on December 18.

Emirates National Oil Company (ENOC) also earlier this month announced that it had reduced the price of diesel by 20 fils to AED3.30 per litre in response to the drop in global oil prices.

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