Dubai: While UAE consumers are preparing to pay a 24 per cent increase in gasoline prices starting next month, those in some corners of the globe have seen their local prices fall, giving them bit more money to spend.
In markets like China, Hungary and Turkey, gasoline prices dropped by 2.2 per cent to 3.2 per cent.
Figures released by GlobalPetrolPrices.com on July 27 showed that petrol price in China, the top net oil importer in the world, posted a decline of 3.2 per cent in one week, the biggest drop among the countries monitored.
China slashed its crude oil import in May, as refineries turned to their stockpiles, causing global prices to fall.
The second-biggest decline was noted in Hungary, where petrol dropped by 2.6 per cent to $1.36 per litre. Consumers in Turkey also saw prices dropped a bit by 2.3 per cent to $1.69 per litre. In Montenegro, prices fell 2.2 per cent to $1.45, while in Switzerland, gasoline was down 2.1 per cent to $1.63 per litre.
Following the removal of oil subsidies, consumers in the UAE will be spending more money on petrol starting next month, with the price of gasoline (95 Octane) fixed at Dh2.14 ($.58) per litre.
Overall, the new price of gasoline in the UAE will still be among the cheapest in the world - more affordable than in markets like Russia, United States, Germany and more than 150 other countries.
However, the UAE will move a couple of places down in the global ranking of countries with the cheapest petrol.
As of July 27, the price of fuel in the UAE was the 15th cheapest in the world. Once the new prices take effect, it will move to the 17th place, and the price of gasoline in this country will be a bit more expensive than in Bolivia ($.51) and Malaysia ($.56).
Changes in gasoline prices over one week, in local currencies (Price/Change)
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185.00 |
0.0% |
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1.16 |
0.0% |
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12.36 |
0.0% |
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1.37 |
-1.3% |
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|
1.29 |
-0.5% |
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0.80 |
0.0% |
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11900.00 |
0.0% |
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1.48 |
1.4% |
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3.74 |
0.0% |
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||
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2.15 |
0.0% |
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|
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3.29 |
-0.2% |
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2.30 |
0.0% |
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1.33 |
-1.1% |
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126.70 |
0.0% |
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814.20 |
0.8% |
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6.70 |
-3.2% |
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672.00 |
0.0% |
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10.18 |
-2.0% |
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1.33 |
-0.0% |
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33.13 |
0.1% |
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12.21 |
-0.5% |
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59.57 |
0.0% |
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6.25 |
0.0% |
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1.00 |
-0.5% |
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1.16 |
-1.5% |
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2.21 |
0.0% |
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1.54 |
-0.5% |
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1.44 |
-0.9% |
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2.19 |
0.0% |
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1.46 |
-1.7% |
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3.44 |
-1.0% |
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1.58 |
-0.8% |
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7.14 |
-1.4% |
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24.56 |
-0.7% |
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15.09 |
-0.7% |
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383.30 |
-2.6% |
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223.60 |
0.0% |
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69.43 |
0.0% |
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9800.00 |
0.0% |
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1.45 |
0.7% |
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6.84 |
0.0% |
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1.65 |
-1.0% |
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715.00 |
0.0% |
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140.11 |
-0.9% |
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137.40 |
-0.9% |
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0.84 |
0.0% |
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|
136.00 |
0.0% |
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100.58 |
0.0% |
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0.07 |
0.0% |
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44.00 |
1.1% |
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|
1.19 |
-0.5% |
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|
1.24 |
-1.6% |
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1.26 |
0.0% |
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|
70.50 |
-1.4% |
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723.60 |
0.0% |
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2.15 |
0.0% |
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|
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1.35 |
0.0% |
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45.95 |
0.0% |
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14.38 |
0.0% |
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18.17 |
0.0% |
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|
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1.31 |
-2.2% |
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109.00 |
0.0% |
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|
||
|
1.73 |
-1.1% |
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|
2.18 |
-0.1% |
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|
31.70 |
-2.0% |
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15.80 |
-0.3% |
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|
77.79 |
-0.4% |
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|
0.96 |
0.0% |
|
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|
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||
|
3.60 |
0.0% |
|
|
|
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|
44.45 |
-0.4% |
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|
5.02 |
-0.6% |
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1.58 |
0.0% |
|
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|
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|
||
|
5.72 |
-1.1% |
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|
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|
36.53 |
0.3% |
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|
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|
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|
145.90 |
-0.7% |
|
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|
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|
||
|
2.15 |
-1.4% |
|
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|
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|
||
|
1.38 |
-1.0% |
|
|
|
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|
||
|
1.35 |
0.0% |
|
|
|
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|
||
|
13.77 |
0.0% |
|
|
|
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|
||
|
1567.25 |
-0.4% |
|
|
|
|
|
||
|
1.31 |
-2.0% |
|
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|
||
|
128.00 |
0.0% |
|
|
|
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|
||
|
11.70 |
0.0% |
|
|
|
|
|
||
|
13.99 |
-1.4% |
|
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|
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|
||
|
1.57 |
2.1% |
|
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|
||
|
26.07 |
-0.0% |
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||
|
2198.00 |
0.0% |
|
|
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|
||
|
34.96 |
0.0% |
|
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|
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|
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|
4.66 |
-2.3% |
|
|
|
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|
||
|
3650.00 |
2.8% |
|
|
|
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|
||
|
20.50 |
0.0% |
|
|
|
|
|
||
|
1.17 |
0.2% |
|
|
|
|
|
||
|
43.50 |
7.1% |
|
|
|
|
|
||
|
0.78 |
-1.4% |
|
|
|
|
|
||
|
20925.00 |
0.0% |
|
|
|
|
|
||
|
9.87 |
0.0% |
|
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Source: GlobalPetrolPrices.com
