UAE to Cut Gasoline Prices

UAE to Cut Gasoline Prices

The UAE will reduce domestic prices for gasoline in March while raising them for diesel, the ministry of energy said on Sunday. The price of a liter of octane 95 gasoline will fall to $0.37 from $0.40 at the start of next month, the ministry said via Twitter. It cited lower demand for gasoline at this time of the year as well as movements in international gasoline prices and higher supply, Reuters reported. The domestic diesel price will rise to $0.38 from $0.37. Last July, the UAE said it was shifting from a system of fixed, subsidized fuel prices to adjusting prices monthly in response to global trends. It did not reveal details of its new formula nor say whether subsidies would be removed entirely, but announced that fuel prices would be "based on the average global prices with the addition of operating costs".


Short URL : http://goo.gl/fc1st9
  1. http://goo.gl/ORcnci
  • http://goo.gl/Edzrhl
  • http://goo.gl/CKmxie
  • http://goo.gl/BNt3qx
  • http://goo.gl/lg1S47

You can also read ...

The petrochemical sector is Iran’s second-most valuable industry after oil and gas.
Bid Boland Gas Refinery project in the city of Behbahan,...
MENA Needs $260 Billion in Power Investment
Middle East and North African countries need to invest $260...
Russia Steadfast on OPEC, European Energy Supply
Russia is committed to its OPEC pact with Saudi Arabia and...
Total to Buy Direct Energie for €1.4 Billion
Oil major Total said it will buy a majority stake in French...
Revenue Top Priority of OPEC Members
The Organization of Petroleum Exporting Countries is moving...
Crude Prices Edge Up on Lower US Inventories
Oil prices edged up on Wednesday, lifted by a reported fall in...
Tehran, Moscow Willing to Extend  Oil-for-Goods Deal 
The Russian Energy Ministry is working with Iran on extension...
Oil Products Delivery to Northeast at 5.8b Liters
The Iranian Oil Pipeline and Telecommunications Company...