The UAE plans to increase the price of gasoline for domestic consumers by 11 per cent in an attempt to make local distribution firms more profitable, according to state media.
The price of gasoline will be increased by AED0.15 ($0.04) a gallon from 21 April, the UAE’s Emirates News Agency (Wam) reported on 18 April. The price increase is part of a wider plan to gradually increase prices and liberalise the oil and gas distribution market in the emirate, according to Wam.
The price increase programme comes as state-run distribution firms continue to suffer losses on the back of high oil prices on international markets, and a federally mandated price for products sold in the UAE. The federal government has currently set a price of AED1.37 ($0.37) per gallon of high octane fuel.