Fuel prices in the UAE fell for the second month in a row in September, supported by a drop in oil prices in August. The UAE’s fuel price committee announced the new prices for the month of September.
The Fuel Price Follow-up Committee approved a reduction in gasoline and diesel prices by 62 fils and 27 fils per liter, respectively, compared to August 2022 prices.
Starting Sept. 1, Super 98 petrol will cost 3.41 dirhams a liter, compared to 4.03 dirhams in August.
Special 95 petrol will cost 3.30 dirhams per liter, compared to 3.92 dirhams in August.
E-Plus 91 petrol will cost 3.22 dirhams a liter, compared to 3.84 dirhams a liter last month.
Diesel will be charged at 3.87 dirhams a liter compared to 4.14 dirhams in August.
(1 dirham = 100 fils = $0.27).
According to UAE fuel distribution companies, the new pricing includes a 5 percent value-added tax.
Fuel prices in the UAE for Sept. 2022 were determined using average international oil prices, which fell compared to July prices after the distribution companies’ operating costs were factored in.
Global Petroleum Price data show that the price of a liter of gasoline in the UAE is among the highest in the Arab Gulf region; however, it is significantly lower than the global average of $1.47 per liter.
Since August 2015, the UAE Ministry of Energy and Infrastructure has pursued a policy of liberalizing fuel prices. The Ministry employs a pricing mechanism that is based on international prices but does not rely on a single market, while also maintaining a reasonable profit to keep distribution companies from losing money and to increase the efficiency of their services.
