Dubai retailers slash diesel price.
Abu Dhabi Abu Dhabi (ä`b thä`bē, zä–, dä–), Arab. Abu Zabi, sheikhdom (1995 pop. 928,360), c. : Dubai oil retailers will cut the price of diesel again as of today, this time by Dh0.75 a gallon gallon: see English units of measurement. , to reflect the decline in international oil prices at the local pumps, oil company officials told Gulf News.
"The price of diesel will be further reduced to Dh10.10 a gallon," said a spokesman for Enoc and Eppco. Another source at Emarat confirmed the downward revision in diesel prices.
Diesel currently sells at Dubai pumps at Dh10.85 per gallon. The latest cut will mark the oil retailers' 15th successive cut in diesel prices. The three oil retailers - Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat - buy diesel at international prices and then adjust the local prices, based on the landed price of the oil product.
Diesel is widely used in the UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. as a transportation fuel and its prices have a direct bearing on inflation.
International oil prices have fallen more than $100 (Dh367) a barrel after touching an all-time high of $147.27 in July triggered by the global economic crisis, which has affected oil consumption patterns worldwide. Yesterday, the sweet light crude oil futures for March 2009 delivery in the US were trading a shade above $35 (Dh150.62) a barrel in early trade.
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