A sigh of relief for United Arab Emirate residents as Fuel Price Committee lowered petrol and diesel prices for July 2024.
For month of July, Super 98 Petrol price saw drop to Dh2.99 per litre. Special 95 Petrol price dropped by Dh2.88 per litre from the current rate of Dh3.02. E-Plus 91 Petrol price moved down to Dh2.80 per litre.
Meanwhile, Diesel rates have been increased slightly to Dh2.89 per litre from the old rate of 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 liberalises fuel prices some eight years back to align with market conditions. Recent oil price increases, with Brent reaching $86.41 and West Texas Intermediate at $81.54 per barrel, show optimism over potential US Federal Reserve interest rate cuts stimulating economic growth and boosting crude demand.
Despite a drop in International Energy Agency’s oil demand growth forecast for 2023, OPEC anticipates strong consumption in key markets like China and India, supporting expectations for increased demand in 2024.
