UAE raises fuel prices

New government fuel deregulation starts functioning on August 1st
The Community By Indira Kasaeva
Published on July 29, 2015
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The Ministry of Energy has released the fuel prices for August 2015 following the new fuel deregulation initiative announced last week.  From August 1st Special 95 will be Dh2.14 per litre; Super 98 is raised to Dh2.25 per litre and E-Plus 91 will be Dh2.07 per litre. The prices will remain for one month until the rates are revised for September.

Comparing to previous prices Special 95 has spiked up 24.41 per cent from the old rate which was Dhs1.72 per litre, Super 98 shows a 22.95 per cent increase while E-plus topped the three with a 28.57 per cent increase from Dhs1.61 per litre to Dhs2.07 per litre. While fuel prices spiked, diesel price has been reduced from Dhs2.90 to Dhs2.05 which is a 29.31 per cent decrease.

Owners of four cylinder cars will feel the increase on average around Dhs18, 6 cylinder cars around Dhs26 and 8 cylinder cars by Dhs45.

At the end of each month, on the 28th, the Ministry will set new prices for the next month based on the average global fuel and diesel prices which will be monitored daily. The UAE fuel price will be based on average global rates including additional costs such as distribution, transportation and operation.

The new fuel deregulation is meant to improve the local economy and enhance UAE’s global competitiveness, as well as allow the government to fund work in more beneficial areas like education and healthcare.

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