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UAE to raise fuel prices by around 10% in May

April's increase in UAE fuel prices follows seven consecutive months of declines

Fuel prices are set to increase around 10% from May 1.
Fuel prices are set to increase around 10% from May 1.

Fuel prices in the UAE will rise by around 10% from May 1, the Ministry of Energy has announced.

The cost of Super 98 fuel will increase from (AED1.62) in April to (AED1.78) in May.

Meanwhile, Special 95 will rise to (AED1.67) from (AED1.51) and E-Plus 91 will increase to (AED1.60) from (AED1.44).

Diesel will also increase from (AED1.56) to (AED1.60), according the the announcement made on Twitter.

The new prices will come into effect from May 1.

The increase tracks the increase in the price of Brent crude in the past month which has risen from $30 per barrel in January to more than $46.

April's increase in prices follows seven consecutive months of declines.

Last July, the Ministry of Energy liberalised fuel prices and a new pricing policy linked to global prices was adopted. 

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Construction Week - Issue 751
Oct 13, 2019