Residents of the United Arab Emirates can breathe a sigh of relief as the Fuel Price Committee has lowered petrol prices for July 2024.
For July, the price of Super 98 Petrol has dropped to Dh2.99 per litre. Special 95 Petrol has decreased to Dh2.88 per litre from the previous rate of Dh3.02. E-Plus 91 Petrol is now priced at Dh2.80 per litre.
However, Diesel rates have seen a slight increase, rising to Dh2.89 per litre from the previous Dh2.88.
Petrol, Diesel Rates in UAE July 2024
| Type of Fuel | July 2024 Rates (per litre) |
|---|---|
| Super 98 Petrol | Dh2.99 |
| Special 95 Petrol | Dh2.88 |
| E-Plus 91 Petrol | Dh2.80 |
| Diesel | Dh2.89 |
The Middle Eastern nation liberalized fuel prices eight years ago to align with market conditions. Recent increases in oil prices, with Brent crude reaching $86.41 and West Texas Intermediate at $81.54 per barrel, reflect optimism about potential US Federal Reserve interest rate cuts that could stimulate economic growth and boost crude demand.
Despite the International Energy Agency lowering its oil demand growth forecast for 2023, OPEC expects strong consumption in key markets like China and India, bolstering expectations for increased demand in 2024.
