UAE gas prices for June: Diesel up 10%, petrol by 5%

The UAE on Sunday announced a hike in the retail price of petrol for the month of June 2016.

From June 1, Special grade petrol (95 octane) will retail at Dh1.75 per litre, an increase of 4.79 per cent from Dh1.67 a litre in May 2016.

Super (98 octane) grade will sell at Dh1.86 per litre, up 4.49 per cent from Dh1.78 per litre.

The price of E Plus gasoline (91 octane) has increased to Dh1.68 per litre, a rise of 5 per cent from Dh1.60 per litre.

Diesel will now retail at Dh1.77 a litre from Dh1.60 a litre, up 10.63 per cent.

The UAE’s Ministry of Energy removed the subsidy on petrol and diesel prices from August 2015.

Since the beginning of 2016, petrol and diesel prices continued to decline in the first three months, but have been on rise since April. The increase has been for the third month in a row.

Reuters reported on March 27, 2017, that oil prices had dipped for the second day in a row as some investors took profit on a surge to seven-month highs, while others worried about higher production with the market hovering near $50 a barrel.

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