UAE petrol and diesel prices fall in September

Petrol prices to fall in UAE In September, it was announced.

Oil prices have risen sharply this year amid persistently high global oil prices, but fell 13% in August.

The breakdown price per liter for September is as follows:

• Super 98: Dh3.41 – from Dh4.03 in August

• Special 95: AED 3.30 – from AED 3.92 in August

• diesel engine: Dh3.87 — from Dh4.14 in August

• Electron Plus 91: Dh3.22 – from Dh3.84 in August

This price The prices announced by the UAE Fuel Price Board in July were the highest so far since it was eased in 2015 to allow them to align with the market.

In 2020, the Fuel Price Board froze prices in the wake of the coronavirus pandemic. These controls were lifted in March 2021 to reflect market movements.

UAE fuel prices rise Some drivers looking for alternative modes of transportation.

Some 52% of UAE residents are considering switching Hybrid or Electric Vehiclean Audi Abu Dhabi survey found in May.

Oil prices rose more than 67% last year amid a faster-than-expected economic rebound, but have been volatile in recent days, recovering above $100 a barrel after falling back above $100 a barrel earlier this month.

Brent crude, the benchmark for two-thirds of the world’s oil, fell 3.4% to $95.93 a barrel at 3.27pm UAE time. West Texas Intermediate, which tracks U.S. crude, fell 2.86% to $89.02 a barrel.

Oil prices fell more than 5% on Tuesday amid growing signs of a global economic slowdown and concerns about weaker demand.

Market volatility amid fears of tighter supply Russia intensifies its offensive in Ukraine and Libya conflict.

Iraq is OPEC’s second-largest producer. Also hit by political turmoil this week.

OPEC+ meets on September 5 after warnings from key members Saudi Arabia sees output cut deal possible Because oil futures do not reflect fundamentals. Other countries in the coalition expressed support.

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Updated: August 31, 2022 at 6:31 pm