Friday, July 19, 2024

UAE Announces Petrol, Diesel Prices for May 2023

Starting from May 1, Super 98 petrol will be priced at Dh3.16 per litre, compared to Dh3.01 in April. Special 95 petrol will cost Dh3.05 per litre, up from Dh2.90 last month.

E-Plus 91 petrol will be priced at Dh2.97 per litre, compared to Dh2.82 in April.

The price of diesel will be Dh2.91 per litre, down from Dh3.03 in the previous month. In April, the fuel price committee slightly reduced the rates by 8 fils per litre following two consecutive months of increases.

The UAE’s economy is expected to maintain a strong outlook, with growth projected to reach 3.9 percent by the end of the year. Inflation is also forecasted to decrease to 3.2 percent by year-end, compared to 4.8 percent last year.

This decline is attributed to stabilizing prices and the diminishing impact of global imported inflation, while local factors such as rents and wages are expected to contribute to this trend.

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