Fuel prices in the UAE change every month. New petrol and diesel prices in the country are announced on the last day of the previous month. However, as July 2024 approaches, it is time to predict the fuel price in July 2024. Will fuel prices increase or decrease?
Current UAE Petrol Prices
- EPlus 91 Price: 2.95 AED
- Special 95 Price: 3.02 AED
- Super 98 Price: 3.14 AED
- Diesel Price: 2.88 AED
*All prices mentioned above are per litre
For more details on current fuel prices in the UAE, read the detailed article on petrol & diesel prices in the UAE.
UAE Petrol & Diesel Price Changes In 2024
- January 2024 saw petrol prices dropping by up to AED 0.14 while the price of diesel decreased by AED 0.19.
- Since then, there has been a steady increase in the prices of petrol and diesel.
- The trend of month-on-month fuel price increases came to an end when fuel prices decreased in June 2024.
- In June 2024, petrol prices dropped by up to AED 0.20 while the price of diesel dropped by AED 0.19 per litre, and now it remains to be seen whether fuel prices increase or decrease in July 2024
How Are Prices Of Fuel In The UAE Decided?
Prior to 2015, the UAE government highly subsidised fuel prices thereby resulting in low petrol and diesel prices. This strategy also protected prices from fluctuations that come as a result of crude oil price trends. In September 2015, it was aligned with global oil prices. The Fuel Price Committee decides fuel prices in the UAE.
A close look at the correlation between global crude oil prices and UAE fuel prices reveals that the UAE’s fuel price increase or decrease is dependent on the average increase/decrease of crude oil prices in the previous month. For example, the overall crude oil price decrease in May 2024 prompted a decrease in the UAE’s fuel prices for June 2024.
Several key factors influence crude oil prices including economic policies and geopolitical developments. This results in the fluctuation of crude oil prices on a daily basis.
July 2024 Petrol Price Prediction
In June 2024, crude oil prices increased by approximately 9%, hence we expect fuel prices in the UAE to increase in July 2024. However, this is just a fuel price prediction. Official fuel prices for July 2024 will be revealed on 30 June, so stay tuned to DubiCars for the official fuel prices for the next month.
FAQs
What Is The Petrol Price In UAE 2024?
Prices of petrol in the UAE for June 2024 are set at AED 2.95 for EPlus 91, AED 3.02 for Special 95 & AED 3.14 for Super 98.
How Much Is 1 Litre of Petrol In The UAE?
A litre of petrol costs between AED 2.95 & AED 3.14 in the UAE depending on the fuel grade.
Will UAE Fuel Prices Increase Or Decrease In July 2024?
Based on historical data, we predict the increase in fuel prices in July 2024. However, this is only a prediction and actual fuel prices for July 2024 will be revealed on the 30th of June.
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