Dubai: The United Arab Emirates has reduced the price of petrol for seventh time in a row after the deregulation of oil prices in the emirates in July 2015.
According to a report in Emirates 24/7, Special 95 will be priced at AED1.36 per litre for the month of March 2016, down 7.48 per cent from AED1.47 per litre in February.
The price of a litre of Special stood at AED1.72 until July 31, 2015, before UAE deregulated retail fuel prices.
Since deregulation, oil prices have witnessed a decline of almost 21 per cent for the most popular Special (95 Octane) grade of petrol.
The price of Special petrol shot up 24.4 per cent to AED2.14 per litre in August 2015, but successive declines over the next seven months have now brought the price down to AED1.36 per litre.
Also, price of Super (98 octane) grade of petrol has also came down to AED1.47 per litre, down 6.9 per cent from AED1.58 per litre in February. Overall, price of Super has fallen 19.6 per cent since July 2015.
Diesel prices for March went up by 2.2 per cent to AED1.40 per litre from the February price of AED1.37 per litre.
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