UAE fuel prices to rise for fourth month running

Fuel prices in the UAE will increase for the fourth consecutive month in July, the Ministry of Energy has announced

Fuel prices are set to increase for the fourth month running.
Fuel prices are set to increase for the fourth month running.

Fuel prices in the UAE will increase for the fourth consecutive month in July, the Ministry of Energy has announced.

The cost of Super 98 fuel will increase from $0.50 (AED1.86) in June to $0.51 (AED1.88) in July.

Meanwhile, Spcial 95 will rise to $0.48 (AED1.77) from $0.47 (AED1.75) and E Plus-91 to $0.46 (AED1.70) from $0.45 (AED1.68).

Diesel will also increase in July from $0.48 (AED1.77) to $0.50 (AED1.85), according to the announcement.

The new prices will come into effect from July 1.

Following the introduction of a new fuel pricing system linked to global rates in July 2015, the UAE witnessed seven consecutive months of petrol declines before April 2016 when Brent crude started a gradual recovery.

From less than $30 per barrel in January, prices have now moved to around $50 a barrel.

In recent days, oil prices have fallen to around $48 a barrel following the UK's decision to exit the EU. 

 

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