UAE has most expensive gas in the GCC

UAE has most expensive gas in the GCC
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Published July 15th, 2012 - 07:11 GMT via SyndiGate.info

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The UAE has the highest petrol price in the oil-rich Gulf and the third in the Arab world
The UAE has the highest petrol price in the oil-rich Gulf and the third in the Arab world
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London
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GCC
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Organization of Arab Petroleum Exporting Countries

The UAE has the highest petrol price in the oil-rich Gulf and the third in the Arab world. In Saudi Arabia petrol sold at around 45 fils for regular type. Petrol prices stood at about 50 fils and 55 fils for both types while they were estimated at 70 and 80 fils in Qatar, Dhone in Bahrain and Dh1.2 in Oman.

Official data showed the UAE, the second largest Arab economy, was ahead of all other members of the GCC in terms of fuel prices and third only to Syria and Tunisia in the entire Arab region. The UAE has the fourth largest hydrocarbon wealth in the region. At the end of 2011, gasoline prices in the UAE stood at Dh1.52 for regular petrol and Dh1.78 for premium type, according to the Kuwaiti based Organization of Arab Petroleum Exporting Countries. Regular petrol price in Syria stood at more than Dh two at the current pound rate while in Tunisia it was around Dh2.56. Gasoline prices in the remaining Arab nations were below those of the UAE.

Petrol in Egypt, which controls only around 4.5 billion barrels of proven crude wealth, was sold at Dhone at the end of 2011 despite political unrest. In conflict-battered Iraq, gasoline prices stood at nearly Dh1.2 at the end of 2011. In Libya, petrol prices stood at as low as Dh0.51 per litre before the crisis while petrol was sold at about Dh1.1 in Algeria, the report showed. In a recent study, a London-based energy centre said the UAE has the lowest subsidies on fuel prices among oil producers.

 

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