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Deregulation of fuel will not affect prices of goods in UAE assures Ministry of Economy

UAE’s Ministry of Economy on Tuesday reassured that the decision to deregulate fuel prices in the UAE will not lead to any increase in the price of consumer goods.

The Ministry stated that it will work in cooperation with relevant authorities across the emirates to tighten control over the market and prevent any attempt of price rise of consumer goods.

The Ministry in its official statement said projections indicate that diesel prices will decline triggering a related reduction in transport costs of consumer goods which will eventually decrease the prices rather than climb further.

Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary, UAE Ministry of Economy for Economic Affairs, stated that the Ministry prioritised consumer protection as a fundamental pillar in its commitment to strengthening the UAE’s social security standards.

He further asked all consumers in the UAE to remain vigilant and immediately inform the Ministry of Economy and related entities of any price increase following the announcement of the deregulation of fuel prices in the country.

He also invited them to call the Consumer Protection hotline 600522225 to notify the Ministry of such related violations.