(MENAFN- Emirates News Agency (WAM)) Commenting editorially on the UAE's decision to deregulate fuel prices, the Dubai-based Khaleej Times daily has said that the decision will make the UAE a greener place to live in and encourage the use of public transport.
The daily went on to say that aligning fuel prices with global market forces is important for the economy to sustain its growth and weather storms that come its way.
"Our roads will be safer and it could spark a move towards fuel efficient vehicles. Many of us could even cycle to work, if the weather permits. The move to deregulate fuel prices from August 1st is in the national interest because it will help preserve precious resources, which could boost the economy," it added.
The daily further noted, "This progressive step weans us away from an era of cheap fuel and will stop us from buying fuel-guzzling SUVs and sports cars. Prudent residents can slash their expenses by avoiding needless travel. Savings could rise and carbon emissions could fall because more vehicles will go off the roads. The government, on its part, has said that petrol prices will be balanced according to international standards. Oil retailers, however, must increase operational efficiencies to lower their costs."
"With the country moving towards solar power, why can't our vehicles have a cleaner drive? There's a big push for electric cars, but very few takers in the country. This move could give a fillip to sales of electric vehicles and hybrids. Manufacturers will also shift to producing smaller, more fuel efficient vehicles. The good news is the price of diesel for public transport is expected to fall," the daily remarked.
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