UAE reduces petrol prices for May 2022

The UAE has reduced its fuel prices for the month of May.

From May 1, Super 98 petrol will cost Dhs3.66 a litre, down 2.13 per cent from Dhs3.74 a litre the previous month.

Special 95 will cost Dhs3.55 per litre next month, a 1.9 per cent decline from this month’s price of Dhs3.62.

Meanwhile, the price of diesel has been raised 1.49 per cent from Dhs4.02 in April to Dhs4.08 per litre.

إليكم أسعار الوقود ⛽ لشهر مايو 2022 وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة

May 2022 fuel ⛽ prices as per the #UAE fuel committee are out. #InspiringEnergy pic.twitter.com/OqbkN2yyq1

— ENOC (@enoc_official) April 29, 2022

The International Monetary Fund has sharply raised its view of the revenue windfall that the oil-exporting nations of the Middle East and Central Asia will collect in 2022. Oil revenue in the region this year will reach $818bn, an increase of $320bn from the IMF’s assessment in October, according to its regional outlook published this week. The Middle East and Central Asia include five of OPEC’s biggest producers led by Saudi Arabia.

Read: Oil exporters bagging $818bn windfall are cautioned by IMF