ALBAWABA - Websites for fuel distribution companies in the United Arab Emirates (UAE) said their products of oil derivatives will rise as of Monday.
The rise will affect all grades of gasoline, namely the premium with 98 octane fuel, midgrade 95 octane and regular with 91 octane, which will be raised by 15 fils per litre.
Diesel prices, however, decreased by 12 fils per litre to sell at 2.91 UAE dirhams (AED), or $0.79, according to the price list approved by the Fuel Prices Follow-up Committee, which slaps a 5 percent value-added tax.
With the increased rates, each litre of 98 octane sells at AED 3.16 ($0.86); the 95 octane at AED 3.05 ($0.83) and the 91 octane at AED 2.97 ($0.81), the price list showed.
The UAE Ministry of Energy and Industry sets fuel price standards on a monthly basis, based on the average global oil prices, plus operating costs.
