UAE further cuts fuel prices for October

(MENAFN- Khaleej Times)

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The Ministry of Energyon Mondayannounced that petrol prices will sustain downward trend and to be further reduced in October.

At a meeting chaired by Under Secretary of the ministry Dr Matar Al Neyadi it was decided that the gasoline price 98 Octane would be reduced by 8.21 per cent at Dh1.79 per litre.

Special 95 Octane price reduced by 8.6 per cent at Dh1.79 per litre while E Plus-91 price lowered by 8.99 per cent to Dh1.72 per cent in line with international market trend.

Diesel up

After two successive downward revisions in the diesel prices sinceJuly 28 the ministry slightly raised the diesel prices at pumps by 1.612 per cent to Dh1.89 a litre. The diesel price was at Dh2.35 litre in July which were reduced 23 per cent to Dh1.83 with effect fromAugust 1.

MonthGasoline 98Special 95E-plus 91Diesel July 1.83 1.72 1.61 2.9 August 2.25 2.14 2.07 2.05 September 2.07 1.96 1.89 1.86 October 1.79 1.79 1.72 1.89 OnAugust 28 the UAE fuel price committee comprising oil marketing companies and the UAE Ministry of Energy announced a further cut of 9.2 per cent to Dh1.86 a litre.In July the Ministry of Energy announced that fuel prices would be deregulated and a new pricing policy linked to global prices would be adopted.

The per litre prices for September are 98 Octane Dh2.07; Special 95 Octane at Dh1.96 and E Plus-91 at Dh1.89. Diesel price was fixed at Dh1.86 per litre.

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