The UAE lowered retail petrol and diesel prices for November, with Super 98 falling to AED4.16 a liter from AED4.40 in October, the Gasoline and Diesel Prices Follow-up Committee said on Saturday in a statement carried by the state news agency WAM and published by Al Bayan.
Special 95 will cost AED4.04 a liter, down from AED4.28, and E-Plus 91 will cost AED3.97, down from AED4.21. Each petrol grade is 24 fils a liter cheaper than in October. The committee put the decline in petrol prices at 5.6%.
Diesel will sell at AED4.75 a liter, down 1.04% from AED4.80 in October.
The new prices apply from November 1.
The cut follows a sharp rise in October. Super 98 climbed to AED4.40 a liter that month from AED3.80 in September, while diesel rose to AED4.80 from AED4.30, according to the committee’s October and September announcements published by WAM.
The UAE has linked gasoline and diesel prices to global petroleum product prices since August 2015. The committee, chaired by the Ministry of Energy and Infrastructure, reviews retail prices every month, taking into account average global product prices and operating and distribution costs, according to the UAE government portal.
