New UAE fuel prices to be announced
The UAE Ministry of Energy is set to announce the new fuel prices for the month of August on Tuesday, deVere Acuma understands.
In what will be the first such announcement under the UAE’s new fuel pricing scheme, petrol prices are expected to increase slightly with the price of diesel dropping. Analysts, however, were hesitant to provide estimates before the decision.
This is the first time the UAE government is undertaking such an initiative. The government had subsidised fuel for three decades, which kept prices lower than the international average.
The new price will be based on average international levels and will be reviewed by a fuel price committee every month prior to its implementation in the UAE, the ministry of Energy said last week.
Credit ratings agency Moody’s said the new fuel price measures are credit positive for the UAE and Abu Dhabi, as they will bolster government finances dented by the downturn in global oil prices.
deVere Acuma offers unrivalled financial advice in the Middle East with retirement planning, pension planning and estate planning just a few of the financial services deVere Acuma provide.
And so, if you are looking for financial advice in Dubai or Abu Dhabi, or wish to understand better retirement schemes such as QROPS or QNUPS, contact us today!
The UAE Ministry of Energy is set to announce the new fuel prices for the month of August on Tuesday, deVere Acuma understands.
In what will be the first such announcement under the UAE’s new fuel pricing scheme, petrol prices are expected to increase slightly with the price of diesel dropping. Analysts, however, were hesitant to provide estimates before the decision.
This is the first time the UAE government is undertaking such an initiative. The government had subsidised fuel for three decades, which kept prices lower than the international average.
The new price will be based on average international levels and will be reviewed by a fuel price committee every month prior to its implementation in the UAE, the ministry of Energy said last week.
Credit ratings agency Moody’s said the new fuel price measures are credit positive for the UAE and Abu Dhabi, as they will bolster government finances dented by the downturn in global oil prices.
deVere Acuma offers unrivalled financial advice in the Middle East with retirement planning, pension planning and estate planning just a few of the financial services deVere Acuma provide.
And so, if you are looking for financial advice in Dubai or Abu Dhabi, or wish to understand better retirement schemes such as QROPS or QNUPS, contact us today!