Members of the Federal National Council complained the UAE is not among the countries with lowest retail price of petrol, while every other Gulf country makes it to the world's top 10 for cheap petrol.
The representatives, however, did not agree on selling petrol at a blanket price for citizens and foreigners.
They eventually agreed on a motion to set up an ad-hoc committee to study the issue and submit the findings to the council.
Ahmad Ali Al Za'abi, a member from Sharjah, said other Gulf countries sell petrol at cheaper prices, while the UAE produces more oil than many of them including Oman.
"High prices of petrol and fuel heavily affect the lives of people with low and medium income, not to mention the country's development as a whole," Al Za'abi said. He suggested setting up more refineries.