The UAE has unveiled its petrol prices for September, in accordance with its customary monthly adjustments.After experiencing a rise in August, petrol prices witnessed an additional uptick in September.
Over the past year, petrol prices in the country have experienced fluctuations, but they currently remain notably elevated compared to the rates documented during the equivalent period the previous year.
UAE petrol and diesel prices
Starting from September 1, the expense of refueling vehicles in the UAE will be:
•Special 95: The price per litre will rise from AED 3.02 in August to AED 3.31.
•Super 98: The cost per litre will increase from AED 3.14 in August to AED 3.42.
•E-Plus: The rate per litre will go up from AED 2.95 in August to AED 3.23.
•Diesel: The price per litre will be AED 3.40, compared to AED 2.95 in August.
In 2020, the Fuel Price Committee introduced a freeze on petrol prices due to the COVID-19 pandemic, preventing any modifications.
However, in March 2021, with global oil prices on the rise, Arabian Business reported that they lifted these limitations, allowing market forces to once again influence petrol prices.
Furthermore, the fluctuations in petrol prices also influence global crude oil prices.
Saudi Arabia and UAE Collaborate on Oil Production Cut
In April, the energy ministries of Saudi Arabia and the UAE jointly pledged to voluntarily reduce their oil production until the end of the current year.
Commencing from May and extending until the start of 2024, Saudi Arabia will lower its output by 500,000 barrels per day, while the UAE will curtail its production by 144,000 barrels per day.
The Saudi Ministry of Energy stated that this decrease aligns with the efforts of certain OPEC and non-OPEC nations involved in the Declaration of Cooperation.
