UAE Fuel Prices for August 2024: Anticipated Trends and Predictions

UAE motorists had a mix feeling in June and July when petrol and diesel prices fell; therefore, they expect some improvement in August. The federal government of the United Arab Emirates, its petroleum firm Emarat indicate the new fuel prices on the last day of every month.

Recent Trends
Prior few months, the petrol prices in UAE were ascending regularly, except in June they brought some relief. This was the first time that the number declined since January this year. The current prices are as follows:

• Super 98: Dhs2. 99 per litre, from Dhs3. 14 in June.
• Euro Super: Dhs2. 88 per litre (from Dhs3. 02 which was offered in June)
• Diesel: Dhs2. 89 for a litre (though a very marginal increase from the Dhs2. 88 that was set in June this year).
• E-plus 91: Dhs2. 80 per litre (Cheaper than Dhs2. 95 last one month in June .

These prices will be in operation up to the end of July, new rates to commence operation from 1st August, 2024.

Impact on Transportation Costs
with the global trends indicating the rising tendency in petrol price structure, the taxes of Dubai taxis per kilometer have also escalated to Dhs2. 14. There has been a change that has recently occurred in the provision of fuel whose implication on taxi service provision has been in doubt on whether it will be reduced also.

Historical Context
The UAE has been changing the petrol prices on a monthly basis ever since 2015 mainly to fine-tune it with the global rates. Until July 2022, the record for the most expensive petrol price in the country was registered at Dhs4. 63 per litre for Super 98. There are notable spikes at the end of 2022 as the highest point then a fall in price at 2023 October, November, December, January.

A decision concerning the further trend towards declining fuel prices will be made during the next announcement to be released on July 31. The UAE people and companies are looking forward to receiving this information as it refers to transport prices and other economic factors.