The deregulation of gasoline and diesel prices was first announced in July last year. However, fears UAE drivers would face what many British and American expats have to spend back home were short lived, with the barely noticeable amount affecting very few.
In fact, when the first round of price changes come into play on August 1, diesel actually dropped to Dhs2.35 from Dhs2.90.
The new Gasoline and Diesel Prices Committee, chaired by Dr Matar Al Nyadi, undersecretary of the Ministry of Energy, have met on the 28th of every month to fix fuel prices ever since.
The committee comprises senior representatives from the ministries of energy, economy and finance, and the CEOs of oil distribution and marketing companies, such as Abu Dhabi National Oil Company and Emirates National Oil Company.
HERE'S HOW THE PRICES HAVE FLUCTUATED SINCE AUGUST Pre-regulation Special: 1.72 Diesel: 2.90