The UAE will raise pump prices of gasoline and diesel by 10.2%-11.63% starting April 1, the first time retail prices are raised since last August, when it moved to a new pricing policy by cutting fuel subsidies and linking pump prices to global oil prices, according to information on the Ministry of Energy's website Monday.
The most widely used 95 RON gasoline will cost Dirham 1.51/liter (41 cents/liter) from April 1, up 11.03% from Dirham 1.36/liter currently, while 98 RON gasoline will be priced at Dirham 1.62/liter, up from Dirham 1.47/liter.
The pump price of 91 RON grade will be increased to Dirham 1.44/liter from Dirham 1.29/liter in March.
Diesel price will be increased by 11.43% to Dirham 1.56/liter, from Dirham 1.40/liter, following stronger international oil prices.
But even after the hike, domestic fuel prices will still be cheaper than before August 1, 2015, as they have been adjusted lower over seven consecutive months in tandem with weaker global oil prices.
Prior to last August, UAE's pump prices were set at Dirham 1.83/liter for 98 RON grade, Dirham 1.72/liter for 95 RON and Dirham 1.61/liter for 91 RON. Diesel price was at Dirham 2.90/liter.
