Good News for Motorists: UAE Petrol and Diesel Prices Slashed

The United Arab Emirates (UAE) Fuel Price Committee has announced new petrol and diesel prices, effective from 1 April 2023. The prices of Super 98, Special 95, E-Plus 91, and Diesel, have been lowered by up to 3.50 percent.

The reduction in prices will also have a positive impact on other sectors across the country such as public transport, cargo, etc. Below is the table showing the price comparison between March and April:

Fuel Type April 2023 Price (AED/L) March 2023 Price (AED/L) Decrease in Percentage
Super 98 3.01 3.09 -2.59%
Special 95 2.90 2.97 -2.36%
E-Plus 91 2.82 2.90 -2.76%
Diesel 3.03 3.14 -3.50%

In March, the Fuel Price Committee had raised the prices of Super 98, Special 95, and E-Plus 91 by up to 1.40 percent, while diesel prices were reduced by a whopping 7.10 percent.

How Fuel Prices are Determined in UAE

Before 2015, the fuel prices in UAE were regulated by the government and were kept constant for long periods. This meant that the prices did not fluctuate with changes in the market rates or the cost of production.

In 2015, the UAE government decided to deregulate fuel prices, which meant that the prices would be determined by the market rates and would fluctuate depending on factors such as global oil prices, supply and demand, and other economic factors.

However, during the start of the COVID-19 pandemic in 2020, the UAE government decided to regulate fuel prices again in order to provide relief to the citizens and businesses that were affected by the pandemic.

Then, in March 2021, the UAE government once again decided to deregulate fuel prices and allow them to be determined by the market rates.

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