Fuel prices in the UAE for the month of July 2023 witnessed an increase, after they had decreased in June, at a time when oil prices were trading near $ 75 a barrel.
The Gulf state had reduced gasoline prices by about 21 fils per liter in June, while diesel prices were reduced by about 23 fils per liter, compared to the slight increase in prices last May.
Today, Friday, June 30 (2023), the Committee for Determining the Prices of Oil Derivatives announced fuel prices in the UAE for the month of July 2023, which is the decision that citizens and residents of the country are waiting for, according to a statement obtained by the specialized energy platform.
Gasoline prices in the UAE for the month of July 2023
It is scheduled to start working on fuel prices in the Emirates for the month of July 2023, starting tomorrow, Saturday, July 1, 2023, as the distribution companies announced the new prices, including value-added tax at a rate of 5%.
The Fuel Pricing Committee announced the increase in the prices of gasoline of all kinds 95, 98 and 91 by about 5 fils, while the price of a liter of diesel increased by 8 fils, compared to June prices.
The fuel prices in the UAE for the month of July 2023 are as follows:
- The price of a liter of “98 petrol” is about 3 dirhams instead of 2.95 dirhams.
- The price of a liter of “95 petrol” is about 2.89 dirhams instead of 2.84 dirhams.
- The price of a liter of “91 petrol” is about 2.81 dirhams instead of 2.76 dirhams.
- The price of a liter of diesel is about 2.76 dirhams instead of 2.68 dirhams
(AED = 100 fils = 0.27 USD)
It is noteworthy that gasoline prices in the UAE rose during the month of May, despite the decline in global oil prices, which had pushed fuel prices down in April 2023.
price levels in the UAE
The UAE seeks to maintain gasoline and diesel prices at specific levels that achieve a balance between oil prices at the global level and the income of citizens and residents at the local level, in order to ensure the maintenance of an adequate standard of living for all.
Both benchmarks (Brent and West Texas Intermediate) are heading to rise by more than 2% in this June, and the rise will be the first monthly gain for Brent crude during 2023, but it will be the second gain for West Texas Intermediate crude after gains in April.
And fuel prices in the UAE for the month of January 2023 had witnessed the largest decline in about a year, before prices ranged between ups and downs again, but it had reached its peak in July 2022, recording 4.52 dirhams ($ 1.23) per liter of gasoline. .
Fuel prices in the UAE for the month of July 2023 were determined after a meeting of the Pricing Committee, which is chaired by the Ministry of Energy, to study average oil prices and several other factors, including the operating cost of distribution companies and the amount of profit achieved, which is a monthly meeting.
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