Dubai: The United Arab Emirates is going to revise the fuel prices for the month of October.
According to media reports, the United Arab Emirates is going to announce a reduction in petroleum products for the month of October today or tomorrow, the main objective of which is to bring local fuel prices equal to global prices.
Officials say that for the last three months, the revision of fuel rates is being announced on the last day of the month continuously, earlier this announcement was made in the last week of the month.
Officials explained the reason for this and said that this procedure is being adopted due to the deregulation of fuel prices in the year 2015.
It should be noted that the UAE had reduced the fuel prices for two consecutive months due to the fear of recession, officials said that during these two months, the fuel prices were reduced by around 1.4 liters.
On the other hand, the price of crude oil in the world market has increased by three percent, after which the price of British crude oil Brent crude oil has reached the level of 89 dollars per barrel, while the price of American crude oil West Texas Intermediate (WTI) has increased by 3.20 dollars. After selling at 81 dollars per barrel.