In less than a year, the cost of petrol and diesel in the United Arab Emirates (UAE) has plummeted by up to 39%. According to Arabian Business, the cost of E-Plus 91 has decreased from AED 4.44 to AED 2.97 per litre, a decrease of more than 33%.
Diesel prices have also dramatically decreased from AED 4.76 to AED 2.91 per litre, a reduction of over 39%. Despite an overall drop in petrol station prices this year, the price of filling a tank with petrol has risen to its highest level.
Diesel, meanwhile, is now more affordable than it has been all year. The continually shifting global energy market is to blame for these price swings.
Due to the epidemic, the UAE’s Fuel Price Committee decided to freeze fuel prices in 2020. However, as oil prices began to climb globally in March 2021, these restrictions were abolished. The committee now modifies domestic fuel prices in accordance with situations on the international market.
The following table displays the drop in fuel costs over a 12-month period:
|Fuel Type||Price in May 2023||Price in June 2022||Percentage Decline|
|Special 95||AED 3.05/liter||AED 4.520/liter||32.5%|
|Super 98||AED 3.16/liter||AED 4.63/liter||32%|
|E-Plus||AED 2.97/liter||AED 4.44/liter||33%|
|Diesel||AED 2.91/liter||AED 4.76/liter||39%|