What you need to know about the fuel subsidy scenario in UAE

The UAE, where the fuel usage per head is already amongst the highest in the world, and it has the 15th cheapest petrol price in the world.

.The UAE Supreme Council of Energy has submitted recommendations to the Ministry of Energy to reduce fuel subsidies over a period of time.
.The UAE, where the fuel usage per head is already amongst the highest in the world, and it has the 15th cheapest petrol price in the world.
.The petrol costs about Dh6.5 per gallon (Dh1.72 or 47 cents per litre) according to globalpetrolprices.com.
.Saudi Arabia is the third cheapest when it comes to petrol prices. The petrol cost is at just Dh2.2 per gallon (58 fils per litre), while the most expensive place is Norway, where it cost $2.67 per litre.
.The UAE government pays around Dh1.20 towards every litre of gasoline sold. The size of financial support that the UAE government provides is exceeding Dh13 billion.
.According to the World Bank, the standard grade gasoline in the UAE, is sold at Dh1.72 ($0.47) per litre, which is less than half of the global average price of $1.21 (Dh4.4) a litre.
.The local UAE fuel retailers, which have to import refined fuel at international prices, are incurring a loss of 74 cents per litre (Dh2.66)
.According to analysts, the UAE needed to raise retail prices by at least Dh1 per litre to partly offset the combined cost of fuel subsidies and operational expenses.

COUNTRY	Prices
Venezuela	$0.02 per litre
Syria	$0.05 per litre
Libya	$0.12 per litre
Saudi Arabia	$0.15 per litre
Turkmenistan	$0.21 per litre
Kuwait	$0.22 per litre
Iran	$0.24 per litre
Bahrain	$0.25 per litre
Qatar	$0.25 per litre
Algeria	$0.25 per litre

How #fuel prices in #UAE will be affected from August 1 http://t.co/C9Tl90kIri pic.twitter.com/ydl0T07ZRJ
- Khaleej Times (@khaleejtimes) July 26, 2015

• Fuel prices in UAE to be deregulated from August 1