The UAE Fuel Price Committee announced new petrol and diesel rates starting from August 1, 2023,with increases of up to 6.9%. Before 2015, the government controlled fuel prices, but in 2015, they deregulated them, letting market forces determine rates. However, in 2020, fuel prices were regulated again to assist those affected by the COVID-19 pandemic.
Here are the new fuel prices for August 2023 compared to July 2023:
| Fuel Type | Price per Liter in August | Price per Liter in July | % Increase from July |
|---|---|---|---|
| Super 98 | AED 3.14 | AED 3 | 4.7% |
| Special 95 | AED 3.02 | AED 2.89 | 4.5% |
| E-Plus 91 | AED 2.95 | AED 2.81 | 5% |
| Diesel | AED 2.95 | AED 2.76 | 6.9% |
The UAE government’s decision to regulate fuel prices in 2020 was aimed at providing relief to people and businesses during the challenging times brought on by the pandemic. As per the new rates, consumers will experience slight increases in petrol and diesel costs in August 2023.
