UAE September fuel prices likely to be lower
The UAE Ministry of Energy will announce new fuel prices for the month of September on Thursday.
In a tweet, Dr Matar Al Neyadi, Undersecretary of the Ministry of Energy and Chairman of the Fuel Price Committee, said fuel prices are likely to be lower than they were In August.
The fuel price committee will take into account average international prices in deciding the fuel prices for the following month, reports Gulf News.
The Ministry had increased petrol prices by about 24% and reduced diesel prices by 29% in July to support the national economy, lower fuel consumption, protect the environment and preserve national resources.
The new fuel prices will be announced as oil prices fall; from a peak of $115 (Dh422.39) in June 2014, oil prices reduced to less than $45 this week.