The ministry had reduced the fuel prices in April while they remained on the higher side during the first quarter of this year, contributing to consumer price inflation.
International oil prices remained stable around $50 a barrel after an agreement between Organisation of the Petroleum Exporting Countries (Opec) and non-Opec oil producers to cut the production by 1.8 million barrels per day from January 1 for six months. Media reports indicate that oil producers are willing to extend the 6-month deal and a decision is expected to be taken in next Opec meeting on May 25.
The cost of unleaded 91 gasoline has been revised upwards to Dh1.83 per litre.
Diesel will cost Dh1.97 a litre, the ministry announced on its website.
News Source:UAE fuel prices increase in May
