UAE to raise gasoline price 24 percent and cut diesel 29 percent

The United Arab Emirates said it would raise domestic prices for gasoline and cut them for diesel in a politically sensitive reform designed to save the government money and encourage motorists to use fuel more efficiently.

The price of a litre of octane 95 gasoline will climb 24 percent to 2.14 dirhams (58 U.S. cents) at the start of August, while diesel will fall 29 percent to 2.05 dirhams, state news agency WAM reported on Tuesday.