UAE cuts fuel prices by 4% for April

28/03/2017 Argaam

Petrol and diesel prices in the United Arab Emirates are set to fall by nearly 4 percent in April compared to March, marking the first fall in fuel prices this year.

 

Starting April 1, top grade Super 98 will cost AED 1.95 per liter (down 3.9 percent from AED 2.03), Special 95 will cost AED 1.84 (down 4.2 percent from AED 1.92) and E Plus will cost AED 1.77 (down 4.3 percent from AED 1.85).

 

Diesel will cost AED 1.95, a decrease of 3.5 percent from AED 2.02, according to the ministry of energy.

 

Fuel prices in the UAE are set every month by a committee led by the ministry of energy, and are linked to global crude prices.

 

Global benchmark Brent crude hit $56 per barrel in February, but has since declined to the $50-level as US crude inventories and rig count remain on the rise, offsetting the impact of OPEC’s output cut deal on prices.

 

Brent crude was last trading 0.8 percent higher at $51.16/bbl. 

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