Diesel prices in Dubai and other northern emirates surged by more than 34 per cent in the first half of this year but fresh increases are unlikely for the time being, the semi official daily Alittihad said on Tuesday.
Since the start of 2011, the prices of diesel at petrol pumps owned by ENOC and EPPCO have risen five times but only one increase has been announced by them, the paper said, quoting industry sources.
From around Dh2.75 per litre in early 2011, diesel prices swelled by nearly 34.5 per cent to Dh3.75 per litre in June, the paper said.
The first increase was on January 16 when prices were hiked to Dh2.9 from Dh2.75 while the second increase was in February from Dh2.9 to Dh3.05. Subsequent increases pushed up the price to Dh3.75 in June.
“The sources pointed out that the increases were part of regular price revisions by the suppliers as they are influenced by oil prices as well as supply and demand…the sources believe there will be no price increases for the time being and price cuts remain possible if oil prices decline,” the paper said.