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The United Arab Emirates, which has been slammed in the past for its high carbon footprint, has become the first Gulf Arab state to scrap energy subsidies, announcing new prices for transport fuels that will come into effect on 1 August. The decision to abolish costly subsidies, which was flagged earlier this month, was followed this week with an announcement on new pricing for all gasoline grades, which are set to be sharply higher, across all seven emirates. The price of diesel, however, will be cut by 29% on average across the UAE but by just less than 13% in Abu Dhabi itself (see table).
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