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Monday, March 27, 2023

UAE residents rejoice as fuel prices drop

UAE residents rejoice as fuel prices drop

For Salam Shehady, when petrol prices peaked in July, a full tank of gas cost around Dh200. “In January 2023, I will only need to spend Dh100,” she said. “It’s half of what I’m used to paying. So, I’m very happy about the price reduction.”

The Dubai resident, whose office is in Abu Dhabi, said petrol prices directly influenced her decision to take office. “When prices are high, I can’t afford to go to Abu Dhabi so often, so I work from the Dubai office,” she said. “But when prices come down, I go to the Abu Dhabi office more often. I’m really thankful that the new year brings some amazing news.”

Gasoline prices for January 2023, released on Friday, fell by at least 50 fils across the board. The price of Super 98 petrol has dropped from Dh3.30 to Dh2.78. The price of Special 95 has been reduced from Dh3.18 to Dh2.67. The price of the E-Plus 91 dropped by 52 fils from Dh3.11 to Dh2.59. Diesel prices also fell by 45 fils from Dh3.74 to Dh3.29.

Ateeq Ahmed saw the Khaleej Times report on the price drop at Adnoc Station in Al Nahda, Sharjah. “I only had enough petrol for two days,” he said. “My tank capacity is almost 100 liters, which is a huge difference because I can save almost Dh50 on a full tank.”

For Ras Al Khaimah resident Shibin Basheer, the drop means he can save nearly Dh100 a month. “I drive from Ras Al Khaimah three days a week to Sharjah for work and once a week to Dubai,” he said. “The price drop means significant savings to me.”

This is the cheapest petrol price since January 2022, when Super 98 petrol was Dh2.65, Special 95 petrol was Dh2.53 and E-plus petrol was Dh2.46.

Danish Sadiq, a Sharjah resident and adventure enthusiast, has limited his desert driving plans this winter because of the high cost of petrol. “It costs me more than Dh300 to fill up my 4X4,” he said. “I often go to the desert in winter, but this year we decided to travel less often. That’s great news to hear, and a perfect New Years gift from the government.”

The adventure enthusiast added that he had received many calls from friends. “Now that the flow has dropped, everyone is eager to plan the drive,” he said. “We’re all excited to start the new year camped out in the desert.”

The UAE deregulated retail fuel prices in August 2015, and the council has announced revised prices every month since then. In July 2022 this year, retail fuel prices in the UAE hit a record high. Since then, rates have fallen in August, September and October, before rising slightly in November.

For Syrian expatriate Mohammed Yaseen, the drop would translate to saving Dh23 a week on a full tank of petrol. “I live in Dubai Sports City and my wife drives to Sharjah every day,” he said. “I fuel up every week, so for me it saves close to Dh100 a month. I’m happy about that.”

Copyright © 2022 Khaleej Times. all rights reserved. Supplied by SyndiGate Media Inc. (Syndicate Information).

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