Petrol prices in the UAE are going up again
Need to fill up? You might want to do so before the end of the month…
This month we enjoyed the cheapest petrol so far this year, but prices will go back up in August, the Ministry of Energy has announced.
From Tuesday, you’ll pay Dhs1.89 per litre for Super 98, up 1.6 per cent from Dhs1.86.
Special 95 prices will go up 1.7 per cent in August to Dhs1.78 per litre, compared to Dhs1.75 in July, while E Plus will now cost Dhs1.71, up from Dhs1.68.
Diesel prices will rise by 2 per cent a litre to cost Dhs1.88, up from Dhs1.84.
— وزارة الطاقة | UAE (@MOENRUAE) July 30, 2017
Petrol prices were reduced by more than 5 per cent in July (the lowest point so far this year), thanks to a dip in international oil prices.
But as Gulf Business reports, last week, Brent crude prices crossed the $50 per barrel mark for the first time since early June after Saudi Arabia promised to reduce crude exports to help curb global oversupply. Saudi energy minister Khalid al-Falih said the kingdom would limit its crude oil exports to 6.6 million barrels per day in August, almost one million below its levels this time last year.
The UAE’s Ministry of Energy first began setting fuel prices based on average global prices in August 2015. Before that, the price of petrol in the UAE was subsidised by the government, which shielded consumers from global fluctuations in the cost of petrol.
We still have it pretty good though – according to the ranking at globalpetrolprices.com the UAE is currently 14th on the world’s list of cheapest petrol.
SUPER 98 PRICES FOR 2017
August: Dhs1.89 per litre
July: Dhs1.86 per litre
June: Dhs1.96 per litre
May: Dhs2.01 per litre
April: Dhs1.95 per litre
March: Dhs2.03 per litre
February: Dhs2.00 per litre
January: Dhs1.91 per litre