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FINANCIAL NEWS
Emarat cuts diesel price by 6.66%
11 Oct 2011
(MENAFN) Emarat, the fuel retailer, said that since global oil prices went down, the company cut diesel price by 6.66 percent to USD0.95 per liter from USD1 per liter, reported Emirates 24/7.
The company added that since the move attracted more clients, very soon, other fuel retailers might also reduce their fuel prices.
It also said that although fuel companies in the UAE were eager to lift up petrol price due to the global increase in crude oil price which affected the profit margin of fuel marketing firms in the country, the UAE government didn’t give permission to these companies to raise prices.
It is worth noting that although Emarat reduced diesel prices, the price of petrol, the “Special” brand, would remain the same at USD0.46 per liter.
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