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UAE to announce July fuel prices today

Rates crossed Dh4 per litre in June, highest ever in country's history

Published: Thu 30 Jun 2022, 10:30 AM

Updated: Thu 30 Jun 2022, 1:32 PM

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The UAE’s fuel price committee will announce July fuel prices today.

Since the UAE decided to align local fuel prices with global oil rates in August 2015, the committee announces revised monthly fuel rates in the last week of every month.

For the month of June, the committee announced fuel rates on the last day of May. The revised rates were the highest in the UAE’s history when fuel prices crossed Dh4 per litre.

With global oil prices staying above $110 a barrel, will oil prices go up further for July or be revised down? A decision on this is expected anytime today.

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When the UAE increased fuel prices to over Dh4 per litre on May 31, long queues of motorists were seen late in the evening at the petrol station in order to fill cars’ tanks before the date changes to June 1.

Petrol prices in the UAE have jumped over 56 per cent since January 2022 due to an increase in global crude oil prices, especially after the Russia-Ukraine war in February.

- waheedabbas@khaleejtimes.com



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