UAE has reduced petrol and diesel July prices for the second time in July, the prices for petrol and diesel have been reduced by the UAE fuel price committee on Sunday. The new rates will be applicable from July 1 onwards. Given below are the new price list for the petrol and diesel:
As per the new price list Super 98 petrol will cost AED2.99 per litre, down from AED 3.14 a litre in June, while Special 95 petrol will cost AED2.88/ litre, down from AED3.02 per litre the previous month. E-Plus 91 petrol will cost AED 2.80 per litre, reduced from AED 2.95 per litre in June, whereas the diesel of E-Plus will cost 2.89/litre, down by AED 2.88 a litre.
Petrol prices have been reduced for the second time in July after a significant drop in June.
How are the prices for the petrol and diesel determined?
Since 2015, fuel prices in the UAE are determined in line with the international markets. Prices are determined as per the fuel price committee of the UAE. The committee includes members of the energy and finance ministry of the UAE.
The committee, decides the fuel prices not depending on just one global market. It takes the average of global prices as well as operating costs of fuel distribution companies.
Source: Economymiddleeast
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