According to current petrol news, retail fuel prices in UAE increased both in June and July. Afterwards price decrease in August because of concern about global recessions and economic slowdown in China. Lets dig deep into the article, on how fuel prices are going to be in September.
For the price per liter, petrol prices crossed 4 AED per liter for the first time in June. Then it peaks in July. The government reduced fuel prices by 60 fils per liter in August.
Monthly Brent crude oil prices averaged around $104.58 per barrel in April, $113.34 in May, $122.71 in June, and $111.93 in July, according to Statista.
Brent was trading at $100.3 per barrel at 6.15 p.m. UAE time on Tuesday, down 4.6% or $4.8 a barrel on concerns that an inflation-induced weakening of global economies would decrease fuel demand. As well as due to Iraqi crude exports have been unaffected by the clashes.
As of August 22, retail fuel prices in the UAE were more economical than in most countries around the world. According to Khaleej Times, they raise the information from globalpetrolprices.com to comparison the retail fuel prices. The UAE are cheaper than many oil-producing countries, including Norway.
Based on the data, the global price of petrol averaged around 4.98 per liter, compared to 3.92 AED per liter, a decrease of more than 21%.
Nevertheless, the committee will make an announcement about the UAE fuel prices for September either today or tomorrow.
Additionally, if you need to know more about property nearby public transportation, UAE’s Uber price increase blog will provide useful suggestions.
Follow our next post about UAE fuels prices. Last but not least, share your opinion about this situation in the comment down below.