UAE Sees Slight Drop in Petrol and Diesel Prices for June

After months of steady increases, UAE petrol and diesel prices slightly decreased in June. This marks the first reduction in fuel prices since January.

The UAE federal government announced the new prices via Emarat, the national petroleum firm.

Current UAE Fuel Prices:

The current fuel prices in the UAE are as follows:

• Super 98 Petrol: Dhs3.14 per liter (down from Dhs3.34 in May)
• Special 95 Petrol: Dhs3.02 per liter (down from Dhs3.22 in May)
• E-plus 91 Petrol: Dhs2.95 per liter (down from Dhs3.15 in May)
• Diesel: Dhs2.88 per litre (down from Dhs3.07 in May)

These new rates will take effect starting Monday, July 1, 2024.

Impact on Taxi Fares:

As fuel prices have fluctuated, so have the costs associated with taxi rides in Dubai.

The current per-kilometer rate for a taxi ride in the city is Dhs2.09. With the recent decrease in national petrol prices, there is speculation about whether taxi rates will also decrease.

Historical Context:

Since 2015, the UAE has adjusted petrol prices monthly to align with global market rates. The highest recorded petrol price in the UAE was in July 2022, when Super 98 reached Dhs4.63 per liter. In 2023, petrol prices peaked in October and then declined in November, December, and January.

The recent dip in fuel prices has relieved consumers, and many are hopeful that this trend will continue, potentially affecting other costs, such as taxi fares.