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UAE cuts fuel prices for April: Residents say they will save up to Dh200 a month, call it a 'Ramadan gift'

The reduction comes after two consecutive months of increases, bringing relief to residents

Published: Fri 31 Mar 2023, 5:05 PM

Updated: Fri 31 Mar 2023, 6:06 PM

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KT file photo

KT file photo

Deira resident Ahmed Akram left his office early for his Friday prayers and daily devotion for Ramadan. He was just a few minutes away from the nearest petrol station when he got the breaking news alert: Fuel prices are dropping in April.

"It's surely a Ramadan gift, and we hope the gift for Eid is even better,” Akram said. "I will now wait for tomorrow or the day after to get fuel to make the most of the lower rates."

“I even informed my wife and brothers to wait a day to refill the fuel. We have three cars at home in total, with one SUV that consumes a lot of fuel," he added.

UAE residents on Friday welcomed the drop in petrol prices for April, and many agree with Akram, saying it's the "perfect Ramadan gift".

Rates will be slashed by up to 8 fils per litre, according to the announcement.

The price of Super 98 petrol dropped 7 fils from Dh3.09 to Dh 3.01, while the cost of Special 95 fell from Dh 2.97 to Dh 2.90. E-Plus 91, which was Dh 2.90 in March, would be Dh 2.82 in April. Diesel prices fell from Dh 3.14 to Dh3.03.

The reduction comes after two consecutive months of increases, bringing relief to residents.

Ashfaq Shada, a resident of Al Nahda in Sharjah, said it was a big deal for him as he drives to Dubai's Jebel Ali five times a week.

“I have a sedan, and the capacity of the tank is 52 liters. I paid about Dh 160 for three days and refilled twice weekly. I will now have to pay slightly lesser, and I can save about Dh120 a month approximately,” said Shada.

"It’s surely a gift from the authorities to us. Now my monthly expenses can slightly be balanced as the price of poultry products were also increased,” he added.

Hamdan Abu Sulaiman, a Syrian expat who just started a business, said he would be able to save as much as Dh200 a month.

“I used to work as an outdoor sales executive, and I started my own business just two months ago. The savings I'll get from fuel can be multiplied by reinvesting,” said Sulaiman.

The UAE deregulated retail fuel prices in 2015, and since then, the committee announces revised rates every month. After peaking in July 2022, when retail fuel prices reached an all-time high in the UAE, the rates were reduced in August, September, and October.

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