Local petroleum products distributors have decided to hike the price of a liter of petrol by 20 fils as of 15th July 2010, at all fueling stations across the Emirates.
A statement issued today by the distributing companies said the increase is part of liberalisation of prices and their gradual rise.
“The announced rise comes within efforts to gradually mitigate accumulated and growing losses these companies are sustaining due to continuous surge in cost of the product,†the statement added.
