Think to fuel up fast as the increase follows a more than 10% rise in May

After three months of steady increase in petrol prices, get prepared for another rise. For the fourth consecutive month, drivers will pay more when they fill up on fuel. The petrol prices for June have been announced by the Ministry of Energy and Industry and they include VAT too. The biggest price jump affects Special 95, with a 3.4 percent increase in the upcoming month. In May, the prices of fuel for Super and Special 95 rose to 11 percent, following a nearly 10 percent increase in prices in April. All prices include the VAT rate of 5 per cent.

Petrol Prices Increase in June

Breakdown of Petrol Prices per litre

Super 98 – up 5 fils to Dh2.53 (2 per cent rise)

Special 95 – up 8 fils to Dh2.42 (3.4 per cent rise)

Diesel – up 3 fils to Dh2.56 (1.2 per cent rise)

Petrol Prices in June

However, oil prices have surged in 2019 by about 33 per cent. They were at a six-month high last month after the United States announced that it will not renew exemptions allowing China and few other buyers to keep importing Iranian crude. Looking back, the UAE’s Ministry of Energy had tried to get the fuel price settled, based on the average global prices in August 2015. Fuel prices in the UAE were liberalized in August 2015 to adjust as per the market. Also, the petrol prices were subsidized by the government, which prevented the consumers from the effect of the global fluctuations in the cost of petrol.

Fuel Prices in UAE for 2019