Fluctuating Fuel Prices in the UAE: August 2024

UAE Fuel Price: As the end of August approaches, many residents are tightening their grip on their remaining fuel, hoping for a decrease in petrol prices next month.

Monthly Announcement of Petrol Prices:

The UAE federal government announces petrol prices on the last day of each month through its petroleum firm, Emarat. ​

Fuel prices have increased slightly this month, but there is optimism for a drop in September, especially considering the declines experienced in June and July.​

Current Petrol and Diesel Prices:

As of now, the following prices apply to petrol and diesel in the UAE:

• Super 98: Dhs3.05 per litre (up from Dhs2.99 in July)
• Special 95: Dhs2.93 per litre (up from Dhs2.88 in July)
• E-Plus 91: Dhs2.86 per litre (up from Dhs2.80 in July)
• Diesel: Dhs2.95 per litre (up from Dhs2.89 in July)

These new rates will take effect from Monday, September 1, 2024.

Impact on Transportation Costs:

With rising petrol prices, the cost of transportation, particularly taxi fares in Dubai, has also increased. The current per-kilometre rate for taxis is Dhs2.14.

The question remains whether a potential decrease in national petrol prices will also reduce taxi fares.

Historical Context of Price Adjustments:

Since 2015, the UAE has revised petrol prices monthly to align with global market trends.

Notably, the highest recorded petrol price occurred in July 2022, when Super 98 reached Dhs4.63 per liter. In 2023, petrol prices peaked in October but declined in November, December, and January.