The United Arab Emirates (UAE) is preparing to announce the petrol prices for August 2023, after experiencing a fluctuating trend in the past months. In July, UAE FUel prices rose, partially rebounding from the reduction witnessed in June.
As of July 2023, the cost of E-Plus 91 stood at AED 2.81 per litre, marking a significant 36.7% decrease compared to the same period last year when it was priced at AED 4.44. Similarly, diesel prices have also experienced a substantial fall, with a litre of diesel costing AED 2.76 in July 2023, compared to AED 4.76 in the corresponding period last year.
In June, Special 95, Super 98, and E-Plus all recorded price increases, while diesel prices also surged. However, despite these monthly fluctuations, the current prices remain considerably lower than they were last year.
During the course of the past year, UAE fuel prices have exhibited varying trends. While May 2023 saw the highest petrol prices of the year, June recorded the lowest diesel prices.
The prices for July 2023 were as follows:
Special 95 – AED 2.89 per litre, up from AED 2.84 in June.
Super 98 – AED 3.00 per litre, up from AED 2.95 in June.
E-Plus – AED 2.81 per litre, up from AED 2.76 in June.
Diesel – AED 2.76 per litre, up from AED 2.68 in June.
It’s important to note that fuel prices in the UAE were previously frozen by the Fuel Price Committee in response to the COVID-19 pandemic in 2020. However, these controls were lifted in March 2021 to align with the global rise in oil prices.
The fluctuation in petrol prices is partly influenced by the changes in crude oil prices on the international market. The UAE remains vigilant about monitoring global oil trends to make informed decisions on fuel prices.
As the UAE gears up for the August 2023 announcement, motorists and industries alike will closely observe the price adjustments, which can have implications on their budgets and operational costs.
