The UAE fuel price committee has released the updated petrol and diesel prices for August 2024. Effective from August 1, the revised rates reflect the latest adjustments made to align with global oil market trends.
For the month of August, Super 98 petrol will cost Dh3.05 per litre, a slight increase from Dh2.99 in July. Special 95 petrol will be priced at Dh2.93 per litre, up from the previous rate of Dh2.88. E-Plus 91 petrol will see a rise to Dh2.86 per litre, compared to Dh2.80 in July. Diesel, on the other hand, will be charged at Dh2.95 per litre, up from Dh2.89 last month.
The revised fuel prices come in response to fluctuating global oil prices, ensuring that local rates are in sync with international market conditions. The UAE’s fuel price committee regularly reviews and adjusts fuel prices to reflect changes in the global oil market, impacting consumers and businesses alike.
As a result of these price adjustments, motorists in the UAE will experience a slight increase in the cost of refueling their vehicles. For many residents, the changes in fuel prices are a significant factor in their monthly budgeting, affecting everything from daily commutes to long-distance travel.
The increase in fuel prices also has a broader impact on the economy, influencing the cost of goods and services. Transportation and logistics companies, in particular, will need to account for the higher diesel prices in their operational costs. This could potentially lead to a rise in the cost of goods transported across the country.
Despite the increase, the UAE continues to maintain competitive fuel prices compared to many other countries, thanks to its substantial oil reserves and efficient energy policies. The government’s proactive approach in adjusting fuel prices monthly helps mitigate sudden price shocks and provides a level of predictability for consumers and businesses.
As the global oil market remains volatile, the UAE’s fuel price committee will continue to monitor and adjust local fuel prices accordingly. Consumers are encouraged to stay informed about the monthly price changes and plan their budgets accordingly.
With these adjustments, the UAE underscores its commitment to maintaining a balance between global market trends and local economic stability, ensuring that fuel prices are both fair and reflective of current conditions.
