If you’re living in the UAE, I suggest you fill up your tanks before 11:50 pm tonight. It is announced that petrol prices in the UAE will increase by 14% i.e., 0.20 fils/liter (100 fils=1 dirham) effective 11:50 pm today, 14th July 2010.
While petrol prices here is still much cheaper than most countries in the world, this is not the first price increase and I think the trend will continue citing that it’s a part of the “gradual liberalisation of prices”.
The news says,
The UAE has previously said that it plans to gradually increase retail prices of petrol and diesel to more realistic levels.
What is the REALISTIC LEVEL then? The UAE is an oil producing nation so price increases like this just sounds unrealistic to me.
Current petrol prices range from 1.41 dhs to 1.63 dhs/liter (US$0.38 to 0.44/liter).
Canada produces most of the USA’s petrol for consumption…we send them petrol and buy it back from them. Crazy, huh? It ends up being close to US 0.98- 1.10 $ a litre depending on the province you’re in.
I love how everyone thinks they pay too much for gasoline. Here in the states we pay an average of US$2.67 per gallon. Not sure how that converts to liters, but you get the idea. At one point, we paid nearly US$4.00 per gallon.
one U.S gallon= 3.8 liters
One U.k Imperial gallon=4.55 liters
One crude barrel= 42 gallon
One U.S barrel =158.6 Liters
One U.S barrel= $ 99.
Actually, even though it is supposedly minor, it does hurt us a bit… by 400dh petrol budget for the month , has slowly crept up to 550dhs in just over a month! I guess by their “realistic levels” are another ploy in making money I guess…
Anyways, hope things are alright at ur end… Books was kewl thanks! 🙂
.-= Anu´s last blog ..Should I just get a theme =-.
It does hurt. I used to spend only maximum of 50 dhs to fill up my small Honda Jazz but now, I pay around 60-64 dhs!
Grace, we pay 2x as much in Canada, and we produce petroleum too.
Hey, I sent you a message on cabs. Check email?
.-= Gin´s last blog ..Finances- eh =-.
I think all things are relative… we pay a ton for gas no matter where we get it from – Canada or the mid-east, we all have a budget that we have to follow and when there is a huge increase, it hurts. Things are out of hand everywhere.
Hope it doesn’t hurt you too much financially.
.-= Lorie Shewbridge´s last blog ..Nano and Mia Make a New Friend =-.
Woooah 14% increase is one heck of a raise, at least in most countries it only goes up on a par with inflation. I tend to agree though that it doesnt matter where you are petrol prices are always going to be high and they are only going to keep going up until we wean ourselves away from oil dependency.
.-= Rick´s last blog ..Swiss Toni ? Hiring a car is very much like? =-.