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DUBAI, Nov 26 (Reuters) - The United Arab Emirates will lower domestic prices for gasoline and diesel in December, the ministry of energy said on Thursday.
The price of a litre of octane 95 gasoline will drop 1.15 percent to 1.68 dirhams ($0.46) from 1.70 dirhams in November, the ministry said in a news release.
The domestic diesel price will fall to 1.83 dirhams from 1.87 dirhams in November, the ministry said.
In July, the UAE said it was shifting from a system of fixed, subsidised fuel prices to adjusting prices monthly in response to global trends.
It did not reveal details of its new formula nor say whether subsidies would be removed entirely, but announced that prices would be "based on the average global prices with the addition of operating costs".
($1 = 3.6729 UAE dirham)
(Reporting by Celine Aswad; editing by Jason Neely) ((Celine.Aswad@thomsonreuters.com;))
The price of a litre of octane 95 gasoline will drop 1.15 percent to 1.68 dirhams ($0.46) from 1.70 dirhams in November, the ministry said in a news release.
The domestic diesel price will fall to 1.83 dirhams from 1.87 dirhams in November, the ministry said.
In July, the UAE said it was shifting from a system of fixed, subsidised fuel prices to adjusting prices monthly in response to global trends.
It did not reveal details of its new formula nor say whether subsidies would be removed entirely, but announced that prices would be "based on the average global prices with the addition of operating costs".
($1 = 3.6729 UAE dirham)
(Reporting by Celine Aswad; editing by Jason Neely) ((Celine.Aswad@thomsonreuters.com;))
