3rd gas price hike in Sharjah

Fuel suppliers in Sharjah raised their gas prices for the third time this year, justifying the fresh increase by a surge in global gas prices. The price of a small 11-kg gas cylinder was raised to Dh69 from Dh64 while the price of a medium 22-kg cylinder was hiked to Dh137 from Dh128 and that of a large 44-kg cylinder was increased to Dh275 from Dh250. Quoted by Emirat Alyoum Arabic language daily, Mohammed Al Akar, a supplier representative in the Gas Price Committee at the Sharjah Department of Economic Development (DED), said the new price rise had been approved by DED following a surge in global gas prices to Dh573 per metric tonne. He said prices would be reviewed in early April depending on the price of imported gas, adding that several factors had pushed up international gas prices, including a cold spell in many countries and regional political unrest. The paper quoted a DED official as saying the Department had considered suppliers’ request for the latest price rise before approving it. “DED considered the request by suppliers to raise gas prices and decided to reduce the rate of increase before approving it in line with its policy to protect the rights of consumers,” said Fadh Al Khameeri, director of DED’s registration and licensing division.