Last Updated on: 29th June 2023, 06:34 pm
Fuel Prices in The UAE Fall By Up To 42% in A Year
The cost of petrol and diesel has fallen significantly in the United Arab Emirates within a year. As reported by Arabian Business, fuel prices have fallen by 42%.
As of July 2023, the price of E-Plus 91 petrol is AED 2.81 per liter, which is 36.7% lower than last year when it was AED 4.44 per liter.
Diesel prices have fallen further. This month, diesel is AED 2.76 per liter, up from AED 4.76 last year. Diesel is now 42% cheaper.
Not only gasoline but also other fuels have fallen in price. Specialty 95 and Super 98 fuel prices fell by 36% and 35.2%, respectively.
Here is the evolution of fuel prices from July 2022 to July 2023:
| Fuel Type | July 2022 Price (AED/liter) | July 2023 Price (AED/liter) | Reduction Percentage |
| Special 95 | 4.52 | 2.89 | 36% |
| Super 98 | 4.63 | 3.00 | 35.2% |
| E-Plus | 4.44 | 2.81 | 36.7% |
| Diesel | 4.76 | 2.76 | 42% |
Changes in oil prices throughout the year are influenced by the dynamics of the global energy market. The UAE Fuel Price Committee holds monthly meetings to decide whether prices should go up or down.
In 2023, gasoline prices fluctuated with monthly increases and decreases, while diesel prices decreased steadily on a monthly basis.
In 2020, the Fuel Price Committee introduced price freezes, but these restrictions were lifted in March 2021 to adjust for global oil price increases. It is important to note that the cost of gasoline is affected by developments in crude oil prices around the world.
Also Read: UAE Sees Fuel Prices Fall By Up To 39% in One Year