UAE motorists experienced mixed emotions in June and July 2024 as petrol and diesel prices dipped — the first meaningful decline since January of that year. With the federal government's monthly pricing announcement due on July 31, drivers and businesses across the Emirates watched closely to see whether UAE fuel prices for August 2024 would bring further relief or a reversal.
Recent Fuel Price Trends in the UAE
In the months leading up to mid-2024, petrol prices in the UAE had been climbing steadily. June brought the first notable drop of the year, easing pressure on motorists and freight operators alike.
The July 2024 fuel prices — in effect until July 31 — were as follows:
- Super 98: Dh2.99 per litre (down from Dh3.14 in June) - Euro Super 95: Dh2.88 per litre (down from Dh3.02 in June) - Diesel: Dh2.89 per litre (a marginal rise from Dh2.88 in June) - E-Plus 91: Dh2.80 per litre (down from Dh2.95 in June)
These rates remained in force until new prices took effect from August 1, 2024.
August 2024 Fuel Prices Confirmed
When the UAE Fuel Price Committee released its August figures on July 31, all grades moved higher. The confirmed August 2024 rates were:
- Super 98: Dh3.05 per litre - Special 95: Dh2.93 per litre - E-Plus 91: Dh2.86 per litre - Diesel: Dh2.95 per litre
Every grade rose by Dh0.06 per litre compared to July, reversing the short-lived downward trend that had given motorists a brief reprieve.
Impact on Transportation Costs
Global energy market pressures have a direct knock-on effect for everyday UAE transport costs. In line with broader fuel price increases, Dubai taxi fares per kilometre rose to Dh2.14. Whether those taxi rates would be adjusted downward again depends on subsequent monthly fuel announcements.
Historical Context
The UAE has benchmarked petrol prices against global market rates every month since 2015. That pricing model means costs can shift significantly from one month to the next. The all-time record remains the Dh4.63 per litre figure for Super 98 set in July 2022, followed by elevated levels through late 2022 before a gradual easing in the final months of 2023.
The UAE's residents and businesses continue to monitor each monthly announcement closely, given its ripple effects on transport, logistics, and household budgets.
