Diesel prices rose by 7 per cent or 14 fils to Dhs2.01 per litre.
India’s finance ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices, three government officials close to the discussions said.
The UAE fuel prices will rise for April by 8-9 per cent for gasoline and 3 per cent for diesel including the 5 per cent VAT, as announced by the suppliers.
Pakistan and Bangladesh are rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters.
Fuel prices in India reached record-high levels making customers worried on Wednesday. According to the Indian Oil Corporation Limited (IOCL), petrol rates have climbed to Rs86.30 per lire, while diesel stood at Rs76.48 per litre in New Delhi.
Consumers might see fuel prices going up again as oil companies are bracing up to pass the rise in global crude and product prices on retail sales.
Iran’s supreme leader on Sunday threw his support behind a decision to hike petrol prices, a move that sparked nationwide unrest in which he said “some lost their lives.”
The price of Super 98 will be Dhs1.91 per litre, while the prices of Special 95 will be Dhs1.8 per litre, E-Plus 91 at Dhs1.72 per litre and Diesel at Dhs2.06 per litre as of the beginning of July 2020.
The UAE fuel prices continue to be stable for the fifth month in a row. The Fuel Price Follow-up Committee has approved the gasoline and diesel prices for the month of August inclusive of the five per cent value added tax as follows: the price of Super 98 will be Dhs1.91 per litre, the price of Special 95 will be Dhs1.8 per litre, E-Plus 91 will be Dhs1.72 and diesel prices will be Dhs2.06 per litre. Prices will be applicable from Aug 1.