Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
business1 day ago
From using shorter routes to holding off plans, UAE residents are finding ways to reduce their petrol usage as fuel prices climbed for the third month in a row. The newly announced prices for April 2024 will be the highest in six months.
The prices for April have been increased by around 3.9 per cent with Super 98 petrol costing Dh3.15 a litre, Special 95 petrol at Dh3.03 and E-Plus 91 at Dh2.96. Diesel prices have been revised downward for April to Dh3.09 a litre as compared to Dh3.16 in March.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
For Syrian expat Faten Mohammed, who lives in Ajman and works in Jebel Ali, the price increase is going to be heavy on her pocket. “It will cost me almost Dh500 more in terms of petrol expenditure next month,” she said. “This is such bad news for me, especially considering all the other prices going up.”
According to the 33-year-old, she has been changing her timing and route based on the petrol costs in the last couple of months. “The prices have been increasing steadily so I have taken measures to reduce my petrol usage,” she said. “I leave home at 5 in the morning because the traffic is comparably less at the time. More traffic means more petrol usage. I also use the Mohamed bin Zayed road instead of Emirates Road because the distance is lesser.”
Since the UAE announced deregulations of retail fuel prices in 2015, prices have been revised at the end of every month to bring them in line with global rates.
These are the highest prices in the past 6 months, when Super 98, Special 95 and E-Plus were selling at Dh3.44, Dh3.33 and Dh3.26 a litre in October 2023.
Holding off plans
Another Dubai resident Shiyaz Iqbal said that he was also going to impacted by the increase in petrol prices. “I work in sales so it will definitely make a difference as most part of the day I am out meeting customers,” he said. “For next month, it will cost me at least Dh100 extra for petrol. I think I will start using metro more often if the prices continue to rise like this.”
He said he had been considering changing his vehicle but will hold the plan for now. “I have a Toyota Yaris, which I bought specifically for the low petrol consumption,” he said. “I was considering buying a bigger car for my family but I will hold the plan for now because the petrol prices will increase exponentially if I do so at these prices.”
During March, Brent averaged around $84.25 a barrel as compared to $81.3 in the previous month, an increase of $3 in average price which was reflected in revised April prices.
Crude prices rose to a four-month high during mid-March as the International Energy Agency projected a tighter market and also raised its own demand growth this year.
WTI and Brent closed at $83.17 and $87.0 per barrel at the end of the week.
| Month | Super 98 | Special 95 | E-Plus 91 |
| January 2023 | 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 |
| June | 2.95 | 2.84 | 2.76 |
| July | 3.00 | 2.89 | 2.81 |
| August | 3.14 | 3.02 | 2.95 |
| September | 3.42 | 3.31 | 3.23 |
| October | 3.44 | 3.33 | 3.26 |
| November | 3.03 | 2.92 | 2.85 |
| December | 2.96 | 2.85 | 2.77 |
| January 2024 | 2.82 | 2.71 | 2.64 |
| February | 2.88 | 2.76 | 2.69 |
| March | 3.03 | 2.92 | 2.85 |
| April | 3.15 | 3.03 | 2.96 |
ALSO READ:
Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
business1 day ago
Authorities said the Adani Group chairman and seven other defendants agreed to pay the bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years
business1 day ago
Company strengthening regional presence and service offering
business2 days ago
Sinochem may keep three refineries in China's Shandong province
business2 days ago
Memorandum of understanding aims to enhance cooperation in the construction sector
business3 days ago
Serenia Living’s architecture and interiors have been led by Palma’s expert team
business3 days ago
Company’s backward integration model reaps dividends
business3 days ago
Participating companies announce several cooperation achievements
business3 days ago