UAE residents may anticipate a further reduction in petrol and diesel prices following a recent decline observed in June. The adjustment, announced by the UAE federal government through Emarat, traditionally takes effect on the final day of each month.
After a steady increase over several months, June marked the first notable decrease in fuel prices since January. The current rates stand as follows:
Super 98 petrol: Dhs3.14 per litre, down from Dhs3.34 in May
Special 95 petrol: Dhs3.02 per litre, down from Dhs3.22 in May
E-plus 91 petrol: Dhs2.95 per litre, down from Dhs3.15 in May
Diesel: Dhs2.88 per litre, down from Dhs3.07 in May
These adjustments are scheduled to take effect from July 1, 2024.
The periodic revisions in petrol prices are part of the UAE’s adherence to global market fluctuations, a practice initiated in 2015. Notably, petrol prices reached a peak in July 2022 at Dhs4.63 per litre, prompting subsequent adjustments throughout 2023, including declines in November, December, and January following an October peak.
Observers speculate whether the reduction in fuel prices will translate into lower transportation costs, such as taxi fares, in Dubai, where the per kilometre rate recently climbed to Dhs2.09.
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