Middle East Economic Survey
UAE Raises Fuel Prices By 30%
Petroleum products distribution companies in the UAE announced on 30 August that the cost of gasoline would rise by around 30% (Dh1.50/$0.41 per gallon) effective 1 September. They regretted the hardship that would be caused to motorists but said they had no choice but to make the increase because of the soaring price of crude oil. The companies added that they could no longer carry the burden...