Latest news with #Dh2.58
Time of India
30-06-2025
- Business
- Time of India
UAE petrol and diesel prices for July 2025 announced: Check new rates
July fuel prices in the UAE have increased after remaining steady in June and May, which followed two months of consistent declines Petrol and diesel prices across the UAE will increase starting July 1, 2025, following a period of global oil market uncertainty and geopolitical tensions. This comes after two months of relative stability, with June prices holding steady at May's levels. Price Breakdown: What Motorists Will Pay in July The UAE's Fuel Price Committee announced the revised retail rates for July late this month. The new prices, effective from Monday, July 1, are as follows: Super 98 petrol: Dh2.70 per litre (up from Dh2.58 in June) Special 95 petrol: Dh2.58 per litre (up from Dh2.47 in June) E-Plus 91 petrol: Dh2.51 per litre (up from Dh2.39 in June) Diesel: Dh2.63 per litre (up from Dh2.45 in June) These increases mark a noticeable shift after fuel prices remained unchanged in June, following a slight rise in May and two months of consecutive declines prior to that. Global Tensions Driving Up Oil Prices The July price hike was largely anticipated due to rising global crude prices earlier in June. Market analysts had projected an upward pressure on fuel prices after a series of geopolitical events triggered a surge in oil rates. According to reports, the spike followed a sharp escalation in the Middle East after conflict broke out between Israel and Iran, prompting U.S. airstrikes on Iranian nuclear sites. These developments heightened fears of supply disruptions in the region, causing crude oil prices to rally. How UAE Fuel Prices Are Set The UAE deregulated fuel prices in August 2015, linking them to global oil market trends. Since then, petrol and diesel rates are revised monthly by the UAE's Fuel Price Committee, based on fluctuations in global crude prices. The revised prices are typically announced in the final days of each month and implemented from the 1st of the following month. This transparent pricing mechanism helps ensure that local retail rates reflect international energy market conditions, both up and down.
Gulf Business
30-04-2025
- Automotive
- Gulf Business
UAE fuel prices: Here's what motorists will be paying in May
Image credit: WAM The UAE has announced slightly higher fuel prices for the month of May, the price for Diesel has however been reduced for the month. The revised rates, effective from May 1 , are as follows: Super 98 petrol will cost Dh2.58 per litre, down from Dh2.57 in April. Special 95 petrol will be priced at Dh2.47 per litre, compared to Dh2.46 last month. E-Plus 91 petrol will cost Dh2.39 per litre, down from Dh2.38 in April. Diesel will be charged at Dh2.52 per litre, compared to Dh2.63 previously. The Oil drops, poised for biggest monthly fall in three years Oil prices extended declines on April 30 and were set for their largest monthly drop in more than three years as the global trade war eroded the outlook for fuel demand, while fears of mounting supply also weighed. Brent crude futures fell by 75 cents, or 1.17 per cent, to $63.50 per barrel by 0641 GMT. U.S. West Texas Intermediate crude futures dropped 79 cents, or 1.31 per cent, to $59.63 a barrel. Read- Brent and WTI have lost 15 per cent and 17 per cent respectively so far this month, the biggest percentage drop since November 2021. Both benchmarks slumped after US President Donald Trump's April 2 announcement of tariffs on all US imports. They then sank further to four-year lows as China responded with its own levies against US imports, stoking a trade war between the top two oil-consuming nations. Trump's tariffs on imports into the US have made it probable the global economy will slip into recession this year, according to a Reuters poll. China's factory activity contracted at the fastest pace in 16 months in April, a factory survey showed on Wednesday, April 30. Demand amid trade war Worries about demand amid the trade war have weighed on investor sentiment, said ANZ bank senior commodity strategist Daniel Hynes. 'There are also concerns that recent strength in US economic data was only temporary, due to stockpiling ahead of the tariffs that now appears to be abating,' he added. US consumer confidence slumped to a nearly five-year low in April on growing concerns over tariffs, data showed on Tuesday. Recent signs of a de-escalation in the trade wars, including a pair of orders Trump signed on Tuesday to soften the blow of his auto tariffs, eased some jitters among global investors. That said, analysts believe the oil market will stay under pressure as the Trump administration continues to prioritise lower oil prices to manage inflation. Mounting supply from OPEC+ Oil prices were also undermined by fears of mounting supply from the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+. Several OPEC+ members will suggest a ramp-up of output hikes for a second straight month in June, sources told Reuters last week. The group will meet on May 5 to discuss output plans. On the supply front, US crude oil inventories rose by 3.8 million barrels last week, market sources said on Tuesday citing American Petroleum Institute data. US government data on stockpiles is due at 10:30 am ET (1430 GMT) on Wednesday. Analysts polled by Reuters expect, on average, an 400,000 barrel increase in US crude oil stocks for last week. (With inputs from Reuters)
Gulf News
30-04-2025
- Business
- Gulf News
UAE: Petrol, diesel prices for May 2025 announced
Abu Dhabi/Dubai: The UAE fuel price committee on Wednesday announced petrol and diesel prices for the month of May 2025. Super 98 petrol will cost Dh2.58 a litre, compared to Dh2.57 a litre in April, while Special 95 will cost Dh2.47 a litre, compared to Dh2.46 a litre the previous month. E-Plus category petrol will be available for Dh2.39 a litre, compared to Dh2.38 a litre in April, while diesel will now cost Dh2.52 a litre, compared to Dh2.63 a litre the previous month.
