Emarat, a UAE fuel retailer, has slashed diesel prices by 25 fils or 6.66 per cent to Dh3.5 per litre, Emirates24l7 has learnt.
In tandem with the global decline in oil prices, Emarat reduced diesel nearly a week ago, said a sale supervisor at an Emarat petrol station in Dubai on Sunday night.
However, the price of petrol remains the same. Petrol is being sold in the UAE at Dh1.72 per litre for the “Special” brand.
“We have been instructed to sell diesel at Dh3.5 per litre compared to Dh3.75 per litre earlier. Most of the customers are happy. Other fuel companies have not reduced the price as yet," the sale manager said.
High crude oil price has been hitting the profit margin of fuel marketing companies in the UAE. While companies have been keen to increase the price of petrol, the government has so far not allowed a price hike.
According to the sale manager other companies might soon follow suit. "We have already started attracting more customers and it will not be long before others also slash diesel price," he added.