Driv­ers face price rise at the pumps

7 Days in Dubai - - NEWS -

The cost of petrol and diesel prices is to rise by more than 10 per cent from April 1, as UAE prices mir­ror the slight in­crease seen on the in­ter­na­tional mar­ket. A new pric­ing pol­icy linked to global prices was in­tro­duced in Au­gust 2015 with the set monthly cost an­nounced on the 28th of each month. Spe­cial 95 has been priced at Dhs1.51 - up from Dhs1.36 in March and Dhs1.47 in Fe­bru­ary. Su­per 98 has been priced at Dhs1.62 - up from Dhs1.47 in March and Dhs1.58 in Fe­bru­ary. Diesel is priced at Dhs1.56 - up from Dhs1.40 in March. Diesel stood at Dhs2.90 be­fore dereg­u­la­tion. The rise from April 1 is the first since the ini­tial spike of 25 per

cent seen fol­low­ing dereg­u­la­tion last sum­mer. The Min­istry of En­ergy has pre­vi­ously said ty­ing lo­cal prices to the in­ter­na­tional mar­ket will ben­e­fit the econ­omy and en­cour­age peo­ple to con­sider how much fuel they use. UAE-based en­ergy an­a­lyst Robin Mills, CEO of Qa­mar En­ergy, said: “It’s not sur­pris­ing given prices are up 25 per cent in the past month. “The price of Brent has gone up from around 32$ to 40$ per bar­rel. “That’s crude of course but that fil­ters down to the price of petrol.” He sug­gested UAE driv­ers are likely to see the price stay at the same level in the com­ing months, be­fore pos­si­bly ris­ing later this year. He said: “It’s ob­vi­ously dif­fi­cult to say what will hap­pen next, but I’m per­son­ally think­ing this lit­tle rally we’ve seen has prob­a­bly run out of steam and we’re likely to see prices at this level un­til later in the year, when it may rise again.” Mills added: “The price in the UAE is ris­ing by 10 per cent but that’s from a low base and is still lower than it was be­fore the changes last sum­mer. “And al­though prices in the UAE, in­ter­na­tion­ally, are not rock bot­tom, they are a lot lower than in some West­ern coun­tries.”

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