Dubai Government's Department of Petroleum Affairs has announced that the official selling price for Dubai oil loading in August will be 40 cents less than the Oman futures contract for that month. Dubai crude, a Gulf benchmark for Asia, will therefore sell in August at the same discount as in July, according to the Department. The Oman futures contract is the only product traded on the Dubai Mercantile Exchange (DME), which announced the differential determined by the department. The final August price for Dubai crude will be calculated on the last day of trading for that month's contract on the DME, when Oman is set. The Department of Petroleum Affairs issues the price formula for its oil on the last Thursday of every month to apply to the closing three months ahead.