Current UAE Fuel Prices: Petrol And Diesel Update For June 2024

Key Highlights

• The government heavily subsidized fuel prices, protecting them from fluctuations.

• In September 2015, fuel prices were liberalized to align with global oil prices.

• Responsible for setting fuel prices in the UAE.

• Prices are reviewed and adjusted on a monthly basis.

• The latest reductions in fuel prices have made it cheaper to fill up petrol tanks and reduced per-kilometer running costs.

As of June 2024, petrol prices in the UAE are set at AED 2.95 for EPlus 91, AED 3.02 for Special 95, and AED 3.14 for Super 98. The current price of diesel is AED 2.88 per liter. These rates take effect on June 1, 2024, and will likely remain unchanged for the rest of the month. Fuel prices in the UAE are adjusted monthly, with new rates anticipated in July 2024.

Petrol Prices In The UAE Today

• EPlus 91 Price: 2.95 AED
• Special 95 Price: 3.02 AED
• Super 98 Price: 3.14 AED
• Diesel Price: 2.88 AED

*All prices mentioned above are per liter

Petrol Diesel Price Changes In The UAE

In May 2024:

• Petrol prices increased by AED 0.19.
• Diesel prices decreased by AED 0.02.

In June 2024:

• Petrol prices dropped by up to AED 0.20.
• Diesel prices fell by AED 0.19.
• This is the first decrease in petrol prices after four months of consecutive increases.
• Diesel prices decreased for the fourth time this year.

Since January 2024:

• Diesel prices have decreased by AED 0.12.

Petrol & Diesel Prices In The UAE For The Last Six Months

Fuel Fill-Up Cost In The UAE

Filling up your car's petrol tank is now more affordable than it was last month. Depending on the size of your tank, it will cost between AED 4.60 and AED 15.50 for a full refill. This reduction in fuel prices will also significantly lower the per-kilometer running costs.

Petrol Price Standardisation In The UAE

Prior to 2015, the government heavily subsidized fuel prices, shielding them from fluctuations. However, in September 2015, prices were liberalized to reflect global oil market trends. The Fuel Price Committee in the UAE now sets fuel prices, and we can anticipate further adjustments in the coming months.

Verdict

The liberalization of fuel prices in the UAE since 2015 has introduced a more dynamic pricing model aligned with global oil markets. Recent trends, including the latest price decreases, illustrate the ongoing adjustments managed by the Fuel Price Committee. These changes highlight the fluid nature of fuel costs and their impact on consumers, emphasizing the importance of staying informed about monthly price updates.

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