UAE petrol prices to rise 24%, diesel to fall 29%

The UAE’s Ministry of Energy yesterday announced new petrol prices and diesel in line with average world prices for July after adding operational cost. The new prices will come into effect on 1 August.

In a press statement the ministry said that the Price Review Committee has decided that the price of petrol would rise to DH2.14 ($0.58) per litre instead of the current DH1.72 ($0.47), an increase of 24 per cent, while diesel would fall to DH2.05 ($0.56) per litre from the current price of DH2.90 ($0.79), a reduction of 29 per cent.

The new pricing policy is subject to a monthly review by the Price Review Committee which convenes on the 28th of each month.