The UAE has announced an increase in diesel and gasoline prices, in accordance with the country's pricing mechanism tied to international crude oil rates, revealed the Emirates General Petroleum Corporation, known as “Emarat,” responsible for operating fuel stations, in a Twitter update. Diesel prices also saw an increase to reach AED 2.76 per liter in July, up from AED 2.68 in June, with the price of E-plus 91 rising to AED 2.81 per liter, compared to AED 2.76 in the previous month. The slight increase in in petrol prices follows a small reduction observed in the previous month, as reported by UAE media outlets. Since adopting a liberalized approach to petrol prices in 2015, the UAE has allowed rates to align with market dynamics, resulting in fuel prices that often fluctuate in response to global trends. In May, Egypt’s Fuel Automatic Pricing Committee (FAPC) raised diesel prices by EGP 1 to EGP 8.25, while maintaining the prices of all other gasoline types.

Source: Egypt Today July 02, 2023 11:58 UTC