Foot on the gas: UAE petrol prices set to rise by 24%
The UAE is stepping on the gas pedal when it comes to petrol pricing, as the news breaks that petrol prices are set to rise by 24 percent from Saturday. Following the assembly of a new Gasoline and Diesel Prices Committee, petrol prices are to be deregulated as of the end of this week, and linked to global pricing.
The new policy will mean that for example, Unleaded Gasoline 98 will get a hike in price from AED1.83 per-litre to AED2.25 per-litre, with similar rises happening across other fuel types, with the exception of diesel, which has experienced global falls in price.
Prices between the Emirates will differ slightly. The committee, chaired by Dr Matar Al Nyadi, undersecretary of the Ministry of Energy, will meet on the 28th of every month to fix fuel prices monthly.