UAE lowers fuel prices for September 2021
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UAE lowers fuel prices for September 2021

UAE lowers fuel prices for September 2021

Price for diesel was reduced to Dhs2.38 per litre from Dhs2.45 in August

The UAE has lowered fuel prices in the country for September.

This reduction in rates comes in the wake of an incessant buildup in prices for six consecutive months.

The price of Super 98 petrol in the UAE has pared to Dhs2.55, down from Dhs2.58 per litre in August, while the price of Special 95 petrol has been lowered to Dhs2.44 from Dhs2.47 per litre last month.

The UAE fuel committee also reduced the price for diesel to Dhs2.38 per litre from Dhs2.45 in August.

Both crude oil and gasoline have been hit by volatile trading this month as investors weighed the challenge to consumption posed by the delta variant. This week traders will weigh the fall-out from [Hurricane] Ida, as well as the likelihood that the Organization of Petroleum Exporting Countries and its allies will go ahead with an increase in output when it meets on September 1.

Gasoline prices in the southeast US could climb heading into the end of summer if refineries suffer extensive damage or can’t get power and are forced to stay shut for an extended period, adding to the price inflation hitting Americans.

With inputs from Bloomberg 

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