UAE Again Reduces Gasoline Prices Following Subsidy Cuts

The fuel pricing committee of the UAE Ministry of Energy has again reduced the price for gasoline, in its third month of market-linked pricing. Prices for all three gasoline grades were reduced by Dh0.17/liter ($0.05/liter), equivalent to cuts of 8-9%. The price for diesel was raised, however by Dh0.03/liter or 1.6%.

As with pricing for September, announced at the end of August, the gasoline mark-downs reflect the direction of international market prices for gasoline, but not the size of the change. In September trading Middle East gasoline spot prices were hovering below the $63/B mark, only slightly lower than in August. However, Middle East diesel spot prices rallied from around $52/B at the end of August to around $55/B in September. (CONTINUED - 241 WORDS)

DATA INSIDE THIS ARTICLE

table UAE Transport Fuel Prices (Dh/Liter)