UAE Gasoline Prices to Increase in Sept.

Gasoline prices in the UAE are likely to rise again in September, as the country moves to phase out subsidies that have strained its budget, Reuters has reported. "This is the third incremental increase which is leading up to the target of reaching the international price level," an unnamed official from Abu Dhabi National Oil Co (Adnoc) told the news service.

The UAE announced plans earlier this year to gradually reduce subsidies on gasoline, which cost the government hundreds of millions of dirhams a year, until prices match international market levels.- AME Info