Every month. fuel prices are determined in the United Arab Emirates. and it is expected in the current month of April that fuel prices will decline in the Emirates. after witnessing an increase for two consecutive months.
On Friday. March 31. the Fuel Price Follow-up Committee announced. a reduction in gasoline and diesel prices for the month of April 2023.
Fuel prices in the UAE for the month of April 2023 Yesterday morning.
the UAE Fuel Price Determination Committee revealed the new prices that will be applied starting today. Saturday. April 1. The UAE Fuel Price Follow-up Committee decided to reduce the price of a liter of gasoline by between 7 and 8penny per liter. and the price of diesel decreased by 11penny per liter compared to March 2023 prices.
- The price of a liter of “98 petrol” decreased from 3.09 dirhams to 3.01 dirhams.
- The price of a liter of “95 petrol” decreased from 2.97 dirhams to 2.90 dirhams.
- The price of a liter of “91 petrol” decreased from 2.90 dirhams to 2.82 dirhams.
- The price of a liter of diesel decreased from 3.14 dirhams to 3.03 dirhams.
Fuel distribution companies revealed that the new prices for gasoline and diesel. which are scheduled to start applying from Saturday. April 1, 2023, include a value-added tax of 5%.
The decline is the first after two months of increases in fuel prices in the UAE during 2023.
As the country recorded the first increase during the month of February (2023).
And during last February. the price of a liter of gasoline of all grades increased between 27 and 26penny.
and the price of a liter of diesel increased by 9penny.
according to what was seen by the specialized energy platform.
This March also witnessed the second increase during 2023.
The UAE Fuel Price Monitoring Committee decided to raise the price of a liter of gasoline of all grades by about 4penny for gasoline.
and a decrease of 24penny for diesel.
This comes after the largest drop in fuel prices witnessed by the UAE during last January.
which recorded a decline in the prices of all types of gasoline and diesel. by values that decline between 0.4 and 0.55 dirhams.
The price of gasoline in the UAE rose to its highest level during 2022. at 4.52 dirhams ($1.23). in July 2022.
before slowly declining in the following two months. August and September.
Mechanism for determining the price of fuel in the UAE
Fuel prices in the UAE are set monthly by a committee chaired by the Ministry of Energy.
according to the average global oil price. whether it is high or low. after adding the operating cost of the distribution companies.
According to “Global Petroleum Prices” data. the price of a liter of gasoline in the UAE is among the highest in the Arab Gulf region.
but it is much lower than the global average of $1.47 per liter.