12 July, 2010

Fuel price to increase again

"Abu Dhabi: Local petroleum products distributors have decided to increase the price of a litre of petrol by 20 fils from Thursday, July 15, at all fueling stations across the UAE.
A statement issued on Monday by the distributing companies said the increase is part of liberalisation of prices and their gradual rise. “The announced rise comes within efforts to gradually mitigate accumulated and growing losses these companies are sustaining due to continuous surge in cost of the product,” the statement added."


More here: Petrol prices to go up by 20 fils (Gulf News)

(Link via AdamFlinter on twitter)

10 comments:

Stained said...

Increase of 20files per litre which means my total bill will increase by another AED20...brilliant!! :|

Anonymous said...

no freakin way....are they kidding or what

Media Junkie said...

wow..your vehicle consumes 100 litres?

Khalood said...

@Media Junkie: Haha! I was wondering too. xDD

On another note, as what my mother used to say: "Everything is going up, including prices."

So true; so true. :/

Spear The Almighty said...

It is still cheap. I doubt that I will be loosing sleep over this. :)

Stained said...

oops...my bad...my total bill would be AED120 which basically means an increase of AED15... *embarrassed*

Gerry said...

the higher the price goes, the better off we all are. either it means fewer people drive (a good thing) or the country makes more money selling gasoline (also good). and it's still far cheaper than europe and even most of the u.s.

Mohammad said...

Gerry is wrong because:

1) those who are driving now even though they dont need to would be least bothered by the increase in prices, they can afford it....
Very very few people will actually reduce their driving because of a 20 fils increase...

2) Europe/USA shouldn't feature into the equation......its far more telling to compare prices to other GCC countries, and yes, the UAE is much more expensive than all of them.

3) If prices are increased because of "liberalization", shouldnt more distributors be allowed? Why are there only 4 choices in the entire UAE?

4) The only ones who find fuel "cheap" are those on generous expat packages; in other words less than 25% of the driving population.

Anonymous said...

http://www.bbc.co.uk/news/business-10637116

He owed the bank AED30,000? They did not have that much between him and his wife??

What a strange story!

i*maginate said...

About time.

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