UAE petrol prices set to jump in January following December fall

Ministry of Energy announces price rise with diesel set to increase by the most from Janaury 1
UAE petrol prices set to jump in January following December fall
By Staff writer
Wed 28 Dec 2016 03:45 PM

Petrol prices across the UAE are set to rise from January 1 following a drop in prices this month, according to the Ministry of Energy.

The Ministry of Energy, in its monthly announcement, said the price for unleaded 98 will rise to AED 1.91 per litre on January 1, up from AED 1.80 in December.

The price of Unleaded 95 will increase from AED 1.69 to AED 1.80 per litre, while unleaded 91 will also rise to AED 1.73 frm AED 1.62.

The cost of diesel will see the biggest increase in price from AED 1.81 to AED 1.94 per litre from the start of next month.

Last July, the UAE said it was shifting from a system of fixed, subsidised fuel prices to adjusting prices monthly in response to global trends.

It did not reveal details of its new formula nor say whether subsidies would be removed entirely, but announced that fuel prices would be "based on the average global prices with the addition of operating costs".

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