UAE petrol price expected to drop, says gov't official

Price of petrol increased by an average of 20% on August 1
UAE petrol price expected to drop, says gov't official
(Getty Images)
By Staff writer
Wed 19 Aug 2015 11:13 AM

A Minsitry of Energy official has said he expects the price of petrol in the UAE to go down when they are announced at the end of the month.

Following the decision to deregulate gasoline and diesel prices and create a new pricing policy linked to global levels, petrol prices in the UAE rose by an average of 20 percent from August 1

After the change, retail prices ranged between AED2.25 ($0.61) per litre for Unleaded Gasoline 98 (up 22 percent), AED2.14 per litre for Unleaded Gasoline 95 (up 24 percent) and AED2.07 per litre for Gasoline E Plus 91 (up 28 percent).

At the end of each month, the Ministry of Energy’s Fuel Price Committee will announce the prices for the coming month.

Dr Matar Al Nyadi, Undersecretary for the Ministry of Energy and chair of the Fuel Price Committee, said in a Twitter post that he expects a decrease in the price of both petrol and diesel, which dropped by 29 percent following the deregulation.

“I expect, God willing, that the petrol and diesel price will go down as compared to prices for the current month,” Al Niyadi said in his tweet.

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