UAE Petrol Prices To Change For Ramadan With Cut Expected

With Ramadan going on, UAE petrol and diesel prices will be upgraded in April. The nation’s fuel price committee meets at the end of every month to set the rate.

And, as March comes to an end this week, that means changes are on the way.

Given that UAE fuel prices tend to fluctuate in line with global trends, we could well be about to see a reduced rate.

The price of oil has steadily fallen in March, with Brent futures dropping to $75.32 (from $84.31 in February) and US West Texas Intermediate crude settling at $69.33 (down from $77.05).

The near $10 drop amounts to almost Dhs37 per barrel.

A drop in prices would follow changes in March that saw a small increase in the price of petrol and a small drop in the price of diesel.

Currently, the costs are as follows:

• Super 98 petrol costs Dhs3.09 per litre, compared to Dhs3.05 in February.
• Special 95 petrol costs Dhs2.97 per litre, compared to Dhs2.93 in February.
• E-Plus 91 petrol costs Dhs2.90 per litre, compared to Dhs2.86 in February.
• Diesel costs Dhs3.14 per litre, compared to Dhs3.38 in February.

In 2022, UAE petrol prices went above Dhs4 for the first time in June.

Fuel prices in the country were liberalised in 2015, with local rates being aligned with global oil prices.

For the past seven years, the fuel price committee has met on a monthly basis to announce revised rates.

*All prices accurate according to Union Pacific and MarketWatch data, as of March 23, 2023.