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).