The retail price of diesel in Dubai has been cut by 50 fils a gallon to reflect the dip in global crude prices, a report said.

Oil retailers Emirates Petroleum Products Company (Eppco), Emarat and Emirates National Oil Company (Enoc), have cut the price, said oil company sources, as quoted in Gulf News.

’The new diesel price is Dh17.75 per gallon. The fuel’s price reflects the downward trend in international oil prices,’ stated one official.

Though oil companies were unavailable for comment, pumps confirmed that diesel prices have been slashed.

This price reduction has brought down the price gap between Dubai and Abu Dhabi to 106.4 per cent, said the official.