Friday, September 29, 2023

UAE Increases Petrol and Diesel Prices, Here’re the Rates for August

Starting from August 1, 2023, the United Arab Emirates (UAE) Fuel Price Committee has announced new prices for petrol and diesel. The prices of Super 98, Special 95, E-Plus 91, and Diesel will increase by up to 6.9 percent. Here are the new prices:

  • Super 98: AED 3.14 per liter (up from AED 3 in July)
  • Special 95: AED 3.02 per liter (up from AED 2.89)
  • E-Plus 91: AED 2.95 per liter (compared to AED 2.81)
  • Diesel: AED 2.95 per liter (up from AED 2.76)
Fuel TypePrice per Liter in August/2023Price per Liter in July/2023% Increase from July
Super 98AED 3.14AED 34.7%
Special 95AED 3.02AED 2.894.5%
E-Plus 91AED 2.95AED 2.815%
DieselAED 2.95AED 2.766.9%

Before 2015, the UAE government used to control fuel prices and kept them stable for long periods, not changing with market rates or production costs. However, in 2015, they deregulated fuel prices, meaning that market forces would determine the prices based on global oil prices, supply, demand, and other economic factors.

In 2020, at the start of the COVID-19 pandemic, the UAE government decided to regulate fuel prices again to help the people and businesses affected by the pandemic.

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