(MENAFN- Khaleej Times)The Fuel Price Committee announced today that petrol prices will be marginally reduced in September.
Petrol will be sold at Dh1.89 per litre for E-plus (Octane 91 petrol) Dh1.96 per litre for Special (Octane 95 petrol) and Dh2.07 per litre for Super (Octane 98 petrol).
In July: UAE hikes petrol price by over 24%
Diesel will be sold at Dh1.86 per litre.
The new prices will come into effect starting Tuesday September 1 2015.
Dr Matar Al Nyadi Undersecretary Ministry of Energy said: "The prices are based on the average global prices for diesel and gasoline with the addition of operating costs and profit margins of the distributing companies. The Fuel Price Committee will next meet on September 28 to agree on the prices for the month of October." In July:Higher fuel price to hike inflation but there are benefits In July the Ministry of Energy had announced that fuel prices would be deregulated and would be linked with average global oil prices with the addition of marketing and distribution costs. The deregulation was welcomed by top economists saying it would allow the government to channel funds away from wasteful inefficient subsidies into productive investments infrastructure spending education and healthcare. Such spending would boost economic growth improve the UAE's global competitiveness and bring in foreign direct investment they said. In July:Motorists relieved hike is smaller than expected Type of fuel Price before deregulation
Price in August
Price in September Unleaded Gasoline 98 Dh1.83 Dh2.25 Dh2.07 Unleaded Gasoline 95 Dh1.72 Dh2.14 Dh1.96 Gasoline E-Plus 91 Dh1.61 Dh2.07 Dh1.89 Diesel Dh2.90 Dh2.05 Dh1.86
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