Fuel prices again hiked for September in the UAE

The UAE’s Ministry of Energy has revealed the fuel prices for September, with rates once again rising after an increase in August.

In terms of petrol, the price per litre of Super 98 will be Dhs2.01, up 6.3 per cent from Dhs1.89 in August, while Special 95 will cost Dhs1.90 per litre, up 6.7 per cent compred to Dhs1.78 the previous month. One litre of E Plus-91 will be priced at Dhs1.83, an increase of 7 per cent from Dhs1.71 in August.

Diesel prices have also been hiked by 6.38 per cent to Dhs2 per litre from Dhs1.88 in August.

The price hikes for September are higher than the increases made in August, when the average petrol cost rose by around 1.7 per cent. However, prices were reduced by just over 5 per cent in July, after another cut in June, following a dip in international oil prices.

Fuel prices in the UAE are linked to international crude oil prices, which are currently hovering at around $52 per barrel (Brent crude).

Last week, a joint OPEC, non-OPEC monitoring ministerial committee confirmed that the oil market was moving in the right direction but insisted that all options were open in order to ensure stability.

“All options, including the possible extension … beyond Q1 of 2018, are left open to ensure that all efforts are made to rebalance the market,” it said in a statement.

The committee will hold its next meeting in Vienna on September 22, and it plans to invite Libya and Nigeria – both exempt from the output reduction pact.

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