UAE announces fuel prices for August 2020

Fuel prices in the UAE will remain the same in August as the previous month, the fuel price follow-up committee has announced.

The prices per litre will stand at Dhs1.91 for Super 98 petrol and Dhs1.8 for Special 95.

Diesel prices will also stay the same at Dhs2.06 a litre.

The costs include the 5 per cent VAT charge.

August will mark the fifth consecutive month of fuel prices remaining unchanged.

Oil prices globally are trading at around $40 a barrel since early June, with a focus on how the global economy is continuing to deal with the Covid-19 pandemic.

The OPEC+ alliance is also planning to taper cuts from next month, according to reports.

Also read: Covid-19 impact on the regional energy sector: Is it set for a rebound?