The UAE is preparing to unveil the revised petrol prices for September following the weekend. After a similar hike in July, petrol prices increased across the nation in August.
Over the last 12 months, prices have been volatile but notably lower than the same time last year. In August 2022, they priced E-Plus 91 at AED 3.84 per litre, while they set diesel at AED 4.14 per litre.
Some petrol prices have hit their peak for the year, with E-Plus 91 crossing the AED 3 per litre mark for the first time in August.
Despite three consecutive months of increases, diesel is currently cheaper than its yearly high of AED 3.38 per litre in February, according to WAM.
Since August 1st, the cost of refuelling vehicles in the UAE has changed as follows:
•Regular 95 fuel now has a price of AED3.02 per litre, compared to AED2.89 in July.
•Premium 98 fuel now has a price of AED3.14 per litre, up from AED3.00 in July.
•E-Plus fuel now has a price of AED2.95 per litre, an increase from AED2.81 in July.
•Diesel fuel is currently priced at AED2.95 per litre, an increase from AED2.76 in July.
In response to the COVID-19 pandemic in 2020, the Fuel Price Committee froze petrol prices, preventing any changes. However, with the rise in global oil prices in March 2021, they lifted the controls, enabling market forces to determine petrol prices once again. Furthermore, the surge in worldwide crude oil prices also influences the fluctuations in petrol prices.
