Arab Today, arab today september fuel prices likely to be lower compared to august
Last Updated : GMT 20:29:01
Arab Today, arab today
Arab Today, arab today

September fuel prices likely to be lower compared to August

Arab Today, arab today

Arab Today, arab today September fuel prices likely to be lower compared to August

Oil station
Abu Dhabi - Arab Today

The UAE Ministry of Energy will announce new fuel prices for the month of September today

In a tweet, Dr Matar Al Neyadi, Undersecretary of the Ministry of Energy and Chairman of the Fuel Price Committee, said the fuel prices are likely to be lower for the month of September than the previous month.

The fuel price committee will take into account average international prices in deciding the fuel prices for the following month.

The committee will be chaired by the Undersecretary of the Ministry of the Energy. Other members include Undersecretary of the Ministry of Finance, CEO of Adnoc Distribution, and CEO of Emirates National Oil Company (Enoc).

The Ministry had increased petrol prices by about 24 per cent and reduced diesel prices by 29 per cent in a landmark decision taken last month 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 tumble across the globe. From a peak of $115 (Dh422.39) in June last year, oil prices reduced to less than $45 this week.

According to credit ratings agency Fitch, pre-tax energy subsidies in the UAE will amount to $12.64 billion, or 2.87 per cent of GDP, in 2015.

The figure is 4.62 per cent of GDP for Saudi Arabia and Bahrain, and for Kuwait and Qatar it is 1.81 per cent and 1.64 per cent respectively.

Fitch said the successful implementation in the UAE while oil prices are low could increase public acceptance of subsidy reform elsewhere in the region, boosting the prospects for reform.

Gary Dugan, Chief Investment Officer at the National Bank of Abu Dhabi said the deregulation of fuel prices is a long term positive that helps to reduce government expenditures at a time when income is down significantly due to the fall in oil prices.

"I think other countries such as Saudi will have to follow the example of the UAE given that the gap between government revenues and income is forecast by the IMF to be close to 20 per cent of GDP,” he told Gulf News.

"Given the fall in the spot price of crude oil the assumption will be that the fuel price should fall.”

In January, Kuwait raised domestic diesel and kerosene prices but retracted the decision later due to criticism from parliament members. Oman has been studying gasoline prices while Bahrain has increased the price of natural gas for the industry.
Source: Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today september fuel prices likely to be lower compared to august Arab Today, arab today september fuel prices likely to be lower compared to august

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today september fuel prices likely to be lower compared to august Arab Today, arab today september fuel prices likely to be lower compared to august

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday