Abu Dhabi inflation down on lower petrol

12 Nov 2015

(MENAFN) Abu Dhabi’s consumer price fallen down to 0.6 per cent month after month in October, due to the cuts in petroleum prices.

The largest falls logged in October which has fallen to 4.5 per cent in comparison with September which were noticed in the transport group, trailed by food and drinks that went down to 2.3 per cent.

In the year 2014, UAE had a complete support on fuel amounting to USD 2.44970m, which was removed in a phased manner on 28 of July 2015. Since then, four interferences took place, radically decreasing oil prices.

The Minister of Energy Suhail bin Mohammed Faraj Al Mazroui with the collaboration of the CEOs of oil marketing and distributing decided to change the diesel price by two fils, or 1.069 per cent to USD 0.509m per liter, on October 28.

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