As crude prices rise, fuel retailers claim they are losing money
(MEBG) - As oil prices have risen, petroleum product retailers in the UAE say they are losing an average of Dh1.40 per gallon of fuel sold to motorists, reported Gulf news according to company estimates. Petroleum retailers include Emarat, Enoc, Eppco and Adnoc-Fod.
The UAE's domestic consumption of petrol is 354,000 barrels per day. Current petrol prices, which are fixed by the government, are Dh3.95 per gallon for premium, Dh3.65 for regular and Dh4.2 for Ultima (unleaded).
However the UAE’s Minister of Oil and Mineral Resources hinted to the Federal National Council on July 14 that a price rise is imminent.
© 2000 Mena Report (www.menareport.com)
- NBK Weekly Money Market Report dated 20-06-2010
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