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Wednesday, October 4, 2023

UAE raises diesel, petrol prices in July, in line with international crude prices


UAE General Petroleum Company (Emarat), which operates gas stations, revealed in a Twitter update that the UAE has announced an increase in diesel and gasoline prices under the country’s pricing mechanism linked to international crude oil prices.

According to the tweet, Super 98 petrol is now priced at AED 3 per liter, up from AED 2.95 a liter in June, while Special 95 petrol is now AED 2.89 a liter, up from AED 2.95 a liter in June. The price is AED 2.84 per liter.

Diesel prices also rose to AED 2.76 a liter in July, up from AED 2.68 a liter in June, with E-plus 91 prices rising to AED 2.81 a liter, up from AED 2.76 a liter in the previous month Dirham.

Gasoline prices rose slightly after a slight drop last month, UAE media reported. Since liberalizing petrol prices in 2015, the UAE has allowed rates to align with market dynamics, resulting in fuel prices often fluctuating in line with global trends.

In May, Egypt’s Automatic Fuel Pricing Committee (FAPC) raised diesel prices by EGP 1 to EGP 8.25, while maintaining prices for all other gasoline types. In a statement, the FAPC attributed the decision to “increasing international crude oil and petroleum product prices, as well as the strengthening of the pound against the dollar”.

The price of 80-octane gasoline was stable at EGP 8.75 per liter, while the prices of 92-octane and 95-octane gasoline were at EGP 10.25 and EGP 11.50 per liter, respectively.


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