The UAE has announced fuel prices for July, the Emirates News Agency (WAM) reported, citing the UAE Fuel Price Committee. In June, prices remained unchanged from May, which had seen a slight increase following two months of steady declines.
Petrol prices in the UAE were previously expected to face upward pressure for July as global oil prices surged earlier in June due to the outbreak of conflict between Israel and Iran, followed by U.S. strikes on Iranian nuclear sites.
The new rates will take effect from July 1 and are as follows:
- Super 98 petrol will cost AED2.70 per litre, compared to AED2.58 in June.
- Special 95 petrol will be priced at AED2.58 per litre, up from AED2.47.
- E-Plus 91 petrol will be priced at AED2.51 per litre, rising from AED2.39 in June.
- Diesel will be charged at AED2.63 per litre, compared to AED2.45 previously.
Since the UAE deregulated petrol prices in 2015 and aligned them with global rates, these rates are revised at the end of each month.
June has seen increased volatility in global oil markets, driven by a combination of geopolitical developments, shifting demand forecasts, and speculation regarding OPEC+ production decisions.
Read more: Will UAE petrol prices rise or decline in July as Mideast tensions ease?
June petrol prices in UAE
In late May, the UAE fuel price committee announced petrol and diesel prices for June. The rates, effective from June 1, were as follows:
- Super 98 petrol cost AED2.58 per litre, remaining the same as AED2.58 in May.
- Special 95 petrol was priced at AED2.47 per litre, unchanged from AED2.47 in May.
- E-Plus 91 petrol cost AED2.39 per litre, the same as AED2.39 in May.
- Diesel was charged at AED2.45 per litre, down from AED2.52 in May.
