The UAE Fuel Price Committee approved an increase in the price of gasoline and diesel for the month of July 2022 compared to the prices in June 2022 of between 48 and 49 cents per liter for gasoline and 6 cents per liter for diesel.
The new pricing, which included a 5 percent value-added tax, was released by the UAE’s fuel distribution corporations and will be effective as of today, July 1, 2022.
A liter of Super 98 gasoline went up in price from 4.15 dirhams in June to 4.63 dirhams in July, while a liter of Special 95 increased from 4.03 dirhams to 4.52 dirhams in July, an increase of 49 cents each compared to June. E-plus 91 went from 3.96 dirhams in June 2022 to 4.44 dirhams in July 2022, registering a hike of 48 cents.
Meanwhile, diesel prices surged from 4.14 dirhams in June to 4.76 dirhams in July 2022, an increase of 62 cents per liter.
The price rise is in line with previous increases throughout 2022. In January, the Committee reduced gasoline and diesel prices by between 12 and 13 cents per liter for gasoline and by 21 cents per liter for diesel, compared to the prices of December 2021.
In December 2021, gasoline and diesel prices have been lowered by 3 and 4 cents respectively in comparison with November 2021 prices.
It’s noteworthy that the fuel price standards adopted by the Ministry of Energy are determined on a monthly basis, according to the average world oil prices, up or down, after adding the operating costs of the distribution companies.
