UAE lowers petrol, diesel prices for November - Gulf Business
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UAE lowers petrol, diesel prices for November

UAE lowers petrol, diesel prices for November

The price of a litre of octane 95 gasoline will drop 5 per cent to Dhs 1.7 from Dhs 1.79 in October

The United Arab Emirates will lower domestic prices for gasoline and diesel in November, the ministry of energy said on Wednesday.

The price of a litre of octane 95 gasoline will drop 5 per cent to Dhs 1.7 ($0.46) at the start of November from Dhs 1.79 in October, the ministry said on its Twitter account.

The domestic diesel price will fall to Dhs 1.87 in November from Dhs 1.89 in October, the ministry said.

In July, the UAE said it was shifting from a system of fixed, subsidised 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 prices would be “based on the average global prices with the addition of operating costs”.

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