Adnoc to open 125 new service stations with fuel price profit

Adnoc Distribution is to open 125 new service stations across the UAE on the back of the deregulation of fuel prices.

The government’s new free market pricing was announced yesterday, with petrol set to rise by 24 per cent and diesel to fall 29 per cent. The changes will come into effect from August 1.

Adnoc Distribution currently operates 386 service stations and the number is set to rise, according to chief executive Abdulla Salem Al Dhaheri.

“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,” he told state news agency Wam.

He added that the UAE still has one of the most competitive prices in the region and the world in terms of per capita fuel spending compared to the average income of individuals.

Diesel prices are to fall from Dh2.90 a litre to Dh2.05 a litre, while petrol prices (95 Octane) will increase from Dh1.72 a litre to Dh2.14 a litre.

“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,” said Mr Al Dhaheri.

“The decision will also in the long-term allow us to enhance the quality of products and services and deliver an improved customer experience via our service centres.”

business@thenational.ae

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