UAE : The United Arab Emirates is set to announce the new petrol prices for September 2024 this week, following a recent pattern of fluctuating fuel costs. This announcement comes after a notable decrease in August, which broke a streak of four consecutive months of rising prices across the country. The adjustment in prices will be closely watched by motorists and industry analysts alike, as the cost of fuel has become a significant factor in daily expenses for residents.
August witnessed an uptick in fuel prices across all categories, including Super 98, Special 95, E-Plus 91, and diesel, marking a continued rise since the beginning of 2024. The year began with E-Plus 91 priced at AED 2.64 per litre, while diesel was set at AED 3 per litre. However, as of August, E-Plus 91 has seen a gradual increase to AED 2.86 per litre. Similarly, Special 95 has risen from AED 2.71 to AED 2.95 per litre, and Super 98 has increased from AED 2.82 to AED 3.05 per litre. Diesel, which initially saw a slight decrease, has fluctuated and is now priced at AED 2.95 per litre.
The latest figures from August 1, 2024, reflect the following prices:
- Super 98: AED 3.05 per litre (up from AED 2.99 in July)
- Special 95: AED 2.93 per litre (up from AED 2.88 in July)
- Diesel: AED 2.95 per litre (up from AED 2.89 in July)
- E-Plus 91: AED 2.86 per litre (up from AED 2.80 in July)
This consistent increase in fuel prices is influenced by a variety of factors, including global crude oil prices, which have been volatile over the past year. The UAE Fuel Price Committee, which had frozen petrol prices during the COVID-19 pandemic in 2020 to mitigate the economic impact, lifted these controls in March 2021 as global oil prices began to rise. Since then, petrol prices in the UAE have been subject to market forces, reflecting the broader trends in the global energy markets.
Motorists across the UAE have been adjusting to these changes, with many closely monitoring the monthly price announcements. The upcoming release of September 2024’s fuel prices will be particularly significant as it could signal further changes in the cost of living and transportation expenses.