Following the collapse of oil prices, petrol in the United Arab Emirates has become cheaper than Some basic commodities, including drinking water.








Motor-fuel prices have dropped to�an unprecedented level, according to�the local newspaper The National. One liter of�Special gasoline currently costs 40 cents. Meanwhile, you can buy 1,5 litres of�Evian potable water for $2.15, one liter of�Pepsi�� for�80 cents. Six eggs cost $1.06.
"While it's always nice to�save money in�Dubai, it's scary to�think of�the effects of�low oil prices and what's happing to�the economy as�a result of�it. It's a bit scary for�Dubai residents," Dubai resident Yasmine Saade told the newspaper.


Environmental specialist Hassan Galadari shared his concern that the downslide of�petrol prices will hinder the transfer to�more cost-effective cars which are less harmful for�the environment.


In the last year since�January 2015, Brent oil became 30 percent cheaper�� the prices dropping from $52 to $35 dollars for�a barrel. The reasons behind�this major decline include the more moderate growth of�China's economy (China is one of�the world's primary consumers of�hydrocarbon), OPEC's policy of�increasing oil output, and the lifting of�anti-Iran sanctions.

UAE Energy Minister Suhail Al Mazrouei believes the global oversupply of�crude will decline this year, even after�Iran adds an expected 500,000 barrels per day in�oil output.
"Iran's possible production increase of�500,000 barrels per day this year won't be enough to�meet the expected demand," he said. "It's difficult to�see where the new oil supply is coming from�this year to�fill the expected annual demand increase of�at least 1.3 million barrels a day."



By Sputnik