Dubai: Motorists in the UAE will have to shell out a few more dirhams for petrol when prices increase by Dh0.15 per litre from Wednesday.
Oil companies have decided to raise the price of petrol at fuel stations from April 21, said a WAM report quoting a statement from the companies Saturday.
The companies said that prices will be "liberalised and increased gradually".
High cost of product
The increase in price "by a small percentage is part of efforts to gradually reduce the accumulated and increasing losses incurred by the companies due to the continuing high cost of the product", the oil companies said in the statement.
A spokesperson from Emirates National Oil Company (Enoc) confirmed the price adjustment.
The price increase will affect both 95 and 98 octane products, Khalid Hadi of Enoc told Gulf News by telephone.
Saturday, a fuel station on Al Wasl Road was selling petrol for Dh1.37 per litre for Special (95 octane) and Dh1.48 per litre for Super (98 octane).
Gulf News estimates that the new prices will mean an additional Dh5 for an average motorist who buys Dh40-Dh45 worth of petrol per week.
