The retail price of gasoline and diesel in the UAE has recently undergone another round of increases for September. In particular, the price of gasoline has increased by more than 9%, while the price of diesel has increased even more significantly by over 15%. Notably, this is the third month in a row that fuel prices have increased across the nation.
The global spike in crude oil prices is the main cause of these ongoing gasoline price increases. Fuel costs in the UAE are greatly influenced by the price of crude oil, which is used as the primary raw material to produce gasoline and diesel. Geopolitical tensions, supply and demand dynamics, production levels, and international agreements among oil-producing countries are just a few global elements that might affect crude oil prices.
The effects of these gasoline price rises go beyond merely the price of gas at the pump. They may affect consumer spending, inflation, and transportation expenses, among other aspects of the economy. The UAE’s Fuel Price Committee raised the cost of both gasoline and diesel.Diesel prices increased by more than 15%, and gas prices increased by more than 9%. The price has risen for the third month running.
The new rates for September are as follows:
Super 98 gasoline will cost Dh3.42, up 8.9% from Dh3.14 in August, per liter.
A liter of Special 95 gasoline currently costs Dh3.31, up 9.6% from Dh3.02 in August.
Priced at Dh3.23 per liter, E-Plus 91 is 9.5% more expensive than in August.
Diesel currently costs Dh3.4 per liter after a 15.25% price rise, or 45 fils, was made. In August, the price of Brent crude oil, which is commonly used as a benchmark for fuel prices, fluctuated between $80 and $90 per barrel. On August 9th, it rose to its peak level of $87.55, but then fell during the remainder of the month.