Fuel prices fell in the UAE for the month of June 2023, after rising slightly during the current month, as the Gulf country approved a decrease in gasoline prices amounting to about 21 fils per liter, while it reduced diesel prices by about 23 fils per liter, compared to the prices of the current month of May.
Today, Wednesday, May 31 (2023), the Committee for Determining the Prices of Oil Derivatives announced the decision that citizens and residents of the Gulf oil state await by the end of each calendar month, regarding the prices of gasoline and diesel in the Emirates.
It is scheduled to start working on fuel prices in the UAE for the month of June 2023, starting tomorrow, Thursday, as distribution companies announced new prices, including value-added tax at a rate of 5%, according to a statement obtained by the specialized energy platform.
Gasoline prices in the UAE for the month of June 2023
The Fuel Pricing Committee in the UAE announced a reduction in the price of gasoline of all kinds, 95, 98 and 91, by about 21 fils, while the price of a liter of diesel decreased by 23 fils, compared to the prices of the current month of May.
The fuel prices in the UAE for the month of June 2023 are as follows:
- Reducing the price of a liter of “98 petrol” from 3.16 dirhams to 2.95 dirhams.
- Reducing the price of a liter of “95 petrol” from 3.05 dirhams to 2.84 dirhams.
- Reducing the price of a liter of “91 petrol” from 2.97 dirhams to 2.76 dirhams.
- Reducing the price of a liter of diesel from 2.91 dirhams to 2.68 dirhams
(AED = 100 fils = 0.27 USD)
Fuel prices in the UAE witnessed an increase during the current month of May, after a slight decline in April, with the start of a decline in average crude oil prices in mid-March 2023.
Petrol prices in UAE
The reduction in gasoline prices in the UAE for the month of June 2023 is the third of its kind during 2023, as during the past 5 months, prices have increased 3 times, consecutively in February and March 2023, then in May. According to the information monitored by the specialized energy platform.
The UAE seeks to maintain a certain level of balance between global oil prices and domestic oil derivatives prices, in order to ensure the preservation of the level of citizens’ income from waste, so last January witnessed the largest level of price decline in about a year.
Fuel prices in the UAE recorded their highest levels last July 2022, with the conflict in Ukraine reaching its climax, which cast a dire shadow on global oil prices, bringing the price of a liter of gasoline in the UAE to about 4.52 dirhams ($1.23).
It is noteworthy that the fuel prices in the UAE for the month of June 2023 came in the wake of a committee meeting chaired by the Ministry of Energy in the Gulf country, during which it studied the average oil prices, before making its decision, after adding the operating cost of the distribution companies.