Business Desk :
The United Arab Emirate cut fuel oil prices after a break of six months and the new prices will be effective from August 1.
The price of Super 98 petrol has been fixed at 4.03 dirhams per litre, which was 4.63 dirhams in July.
The price of Special Petrol will be 3.92 dirhams, which was 4.52 dirhams last month. E-Plus will be sold at 3.85 dirhams, down from 4.44 dirhams, and diesel 4.14 dirhams, down from 4.76 dirhams.
Fuel prices in the UAE have doubled this year. Oil prices hit their highest level in July since the government announced deregulation in 2015.
Fuel oil prices were increased six times in the current year. However, the UAE’s energy ministry has claimed that the rise in oil prices was lower in the western Asian country compared to the global markets.
The local and expatriate residents have expressed satisfaction for the price cut, as, they said, they have been suffering from the spiraling oil prices in the past six months.
Rashedur Rahman Chowdhury, a Bangladeshi engineer based in the UAE, said: “The price of Special petrol, which we use, has been hovering between 1.80 to 2 dirhams for almost an era.” The spending of people who use taxi for communication rose to a great extent when oil prices hike to over 4 dirhams per litre, he said.
“This oil price cut by 0.6 dirhams a litre is a matter of great relief for us. We hope oil prices will come to their earlier levels soon.” Jashim Uddin, an expatriate Bangladeshi who work as a food deliveryman, said his income fell because of the rise in petrol prices. “I had to spend most of my commission earnings for purchasing petrol. The petrol price cut is good news for us.” The writer is a freelance journalist based in the UAE.
