Petrol prices to be lower from March 1
The UAE has raised the cost of diesel by about 2% in its monthly review of fuel prices, the Ministry of Energy announced on Sunday.
Diesel – used heavily in the construction, industry and transportation sectors – will cost AED1.40 a litre from the start of next month, up from AED1.37 in February.
Petrol prices will however be lower, with a reduction in prices of between 7% and 8%. Super 98 will cost AED1.47 per litre from March 1, Special 95 will be AED1.36 at the pumps, while E Plus 91 was set at AED1.29.
The announcement was made by the Fuel Price Follow-up Committee, chaired by Dr. Matar Hamed Al Neyadi, Under-Secretary of the Ministry of Energy.
It is the seventh consecutive month that petrol prices have fallen since the cut in government subsidies last year.
Officials in the UAE set prices monthly, tracking the open market more closely than when the subsidies were in place.