Adnoc to open 125 new gas stations after UAE's price deregulation

Adnoc Distribution will open 125 new gas stations across the United Arab Emirates (UAE) after the government announced the deregulation of fuel prices.

“The company will utilise the minor profit margin accrued following the deregulation of the fuel prices to add 125 new service stations that will provide value-added and convenience-enhanced services to customers in the UAE,” said Adnoc chief executive Abdulla Salem Al Dhaheri to news agency Wam.

New market pricing is to come into place on August 1, with unleaded prices set to rise by 24% while diesel fuel will become around 29% cheaper.

“The new direction of deregulating the prices will allow Adnoc Distribution to leverage its expansion plans to meet the rising demand for petroleum and allied products by the public in line with the sustained urban growth the UAE is witnessing across all regions,”added Mr Al Dhaheri.

The new price policy in the UAE seeks to support the national economy, protect the environment and preserve national resources, according to the government. New fuel rates will be linked with global prices and decided by a committee on a monthly basis.