Today's Update On Fuel Prices In May 2024 For Petrol And Diesel In The UAE

Key Highlights

• May 2024 witnessed a significant increase in petrol prices in the UAE.

• This marks the fourth consecutive month of rising petrol costs.

• Diesel prices, on the other hand, experienced a slight decrease.

• Fluctuations in fuel prices highlight the ongoing influence of global oil markets.

• Monitoring fuel prices is essential for motorists and businesses to manage expenses effectively.

In May 2024, the petrol prices in the UAE are AED 3.15 for EPlus 91, AED 3.22 for Special 95, and AED 3.34 for Super 98. Diesel is priced at AED 3.07 per litre. These prices take effect from May 1st and will likely stay the same until the end of the month. Fuel prices typically change monthly in the UAE, so new prices are anticipated for June 2024.

Petrol Prices In The UAE Today

• EPlus 91 Price: 3.15 AED
• Special 95 Price: 3.22 AED
• Super 98 Price: 3.34 AED
• Diesel Price: 3.07 AED

*All prices mentioned above are per litre

Petrol Diesel Price Changes In The UAE

Petrol prices rose by AED 0.12 in April 2024, while diesel prices fell by AED 0.07. In May 2024, petrol prices went up again by up to AED 0.19, but diesel prices dropped by AED 0.02. This marks the fourth consecutive month of petrol price hikes and the third decrease in diesel prices this year. Since January 2024, petrol prices have increased by AED 0.52, while diesel prices have only risen by AED 0.07 in May 2024.

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 has become pricier compared to last month. Depending on your tank size, you could be spending between AED 4.80 to AED 16.00 more for a full tank. This rise in fuel prices will lead to a notable increase in per-kilometer running costs.

Petrol Price Standardisation In The UAE

Before 2015, the government heavily subsidized fuel prices to keep them stable. However, in September 2015, fuel pricing was liberalized to reflect global oil prices. The Fuel Price Committee now determines fuel prices in the UAE, and we can anticipate further adjustments in the coming months.

Verdict

In May 2024, petrol prices in the UAE experienced a notable increase, marking the fourth consecutive month of rising costs. Meanwhile, diesel prices saw a slight decrease, continuing a trend of fluctuation observed throughout the year. These adjustments reflect the ongoing influence of global oil markets and underline the importance of monitoring fuel prices for motorists and businesses alike.

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