Urgent.. The increase in gasoline prices in the emirates for the month of May
Urgent.. The increase in gasoline prices in the emirates for the month of May, The United Arab Emirates (UAE) and other countries that produce oil stated earlier this month that they will reduce output beginning in May and continuing through the end of 2023, which led to an increase in the price of oil around the globe.
Read also : Historic event... Al Neyadi becomes the first Arab to walk in space
Since the United Arab Emirates (UAE) began aligning its petrol pricing with worldwide rates in 2015, any decrease or increase in global prices is immediately reflected in the UAE's local petrol prices whenever they are changed at the end of each month.
After two months in a row in which prices went up, they were decreased by approximately eight fils per litre in the month of April.
During the month of April, the price of a litre of Super 98 was Dh3.01, the price of a litre of Special 95 was Dh2.90, and the price of a litre of E-Plus was Dh2.82 per litre.
The price of gasoline around the world
According to the website globalpetrolprices.com, the price of fuel in the Emirates was nearly forty percent lower than the average price for fuel around the world as of the 24th of April. On April 24th, data showed that the average price of petrol around the world was Dh4.87, while the price in the UAE was Dh2.90. According to this rate, the cost of living in the UAE is the 23rd lowest it can be anywhere in the globe.
Petro in UAE
Following the conclusion of the conflict between Russia and Ukraine in June and July of 2017, prices in the UAE reached an all-time high of Dh4.63 per litre.
Either today or tomorrow, the United Arab Emirates (UAE) will make an announcement regarding the retail prices of petrol for the month of May 2023. The government of the UAE will decide whether to raise or lower prices based on the global benchmark for the price of refined petroleum products that is compiled by S&P Global Platts at the end of each month. After then, the costs of shipping and operations are piled on top of everything else. After then, new prices will be applied at the beginning of each month by fuel retailers Enoc, Adnoc, and Emarat.
| Month | Super 98 | Special 95 | E-Plus |
|---|---|---|---|
| January | 2.78 | 2.67 | 2.59 |
| February | 3.05 | 2.93 | 2.86 |
| March | 3.09 | 2.97 | 2.90 |
| April | 3.01 | 2.90 |
2.82 |
| May | 3.16 | 3.05 | 2.97 |