Dubai oil retailers Emirates National Oil Company (Enoc), Emirates Petroleum Products Company (Eppco) and Emarat have cut the price of diesel at the pumps by 50 fils a gallon for a seventh time in less than two months, following a steep decline in global oil prices, Gulf News has reported. The three oil retailers buy diesel, a deregulated oil product, at international prices and then adjust the local prices, based on the landed cost of the oil product. Diesel prices in Dubai have been coming down from an all time high of Dh19.25 a gallon, a price level last seen on July 28. ...
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