Petrol and diesel prices in the UAE will rise sharply in July, authorities announced on Monday, after an extremely volatile month for the oil market globally on the back of the Israel-Iran war.
This is the second time prices have been increased this year.
Petrol prices were kept steady in June after a marginal increase in May. Prices were reduced in March and April, following a rise of about 5 per cent in February. Fuel rates were unchanged in January.
How much will fuel cost in July 2025?
The breakdown of fuel prices per litre for next month is as follows:
Super 98: Dh2.70, up 4.65 per cent from Dh2.58 in June
Special 95: Dh2.58, 4.45 per cent higher than Dh2.47 in June
Diesel: Dh2.63, an increase of more than 7 per cent from Dh2.45 in June
E-Plus 91: Dh2.51, a 5 per cent rise from Dh2.39 in June
The UAE deregulated fuel prices in 2015 and movements are now tied to those in the global oil market.
The oil market faced extreme volatility in June, primarily driven by the 12-day Israel-Iran conflict. Brent prices touched a five-month high of more than $81 a barrel, before erasing all gains as the two countries agreed to a fragile ceasefire last week. Brent prices dropped by 12 per cent last week.
Brent, the benchmark for two thirds of the world's crude, was down 0.24 per cent to $67.61 a barrel at 10.19am UAE time on Monday. West Texas Intermediate, the gauge that tracks US crude, was trading 0.53 per cent lower at $65.17 a barrel.
Looking ahead, the focus is on the Opec+ meeting on July 6, where discussions on a potential output increase are expected, Japanese bank MUFG said in a note on Thursday. The oil producers group raised its monthly oil output by 411,000 barrels per day for July, following similar increases in May and June.
"Near-term price support may persist due to tight inventories and seasonal demand, though easing geopolitical risks and demand uncertainties could temper further gains," MUFG said.
Meanwhile, the market will focus on the outcome from US trade talks with partners as the three-month pause deadline of July 9 looms closer.
Fitch Ratings has raised its 2025 annual average oil price assumption by $5 a barrel to $70 a barrel, it said on Friday.
more from Janine di Giovanni
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
RACE CARD
5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m
The Bio
Favourite Emirati dish: I have so many because it has a lot of herbs and vegetables. Harees (oats with chicken) is one of them
Favourite place to go to: Dubai Mall because it has lots of sports shops.
Her motivation: My performance because I know that whatever I do, if I put the effort in, I’ll get results
During her free time: I like to drink coffee - a latte no sugar and no flavours. I do not like cold drinks
Pet peeve: That with every meal they give you a fries and Pepsi. That is so unhealthy
Advice to anyone who wants to be an ironman: Go for the goal. If you are consistent, you will get there. With the first one, it might not be what they want but they should start and just do it
Zayed Sustainability Prize
PRO BASH
Thursday’s fixtures
6pm: Hyderabad Nawabs v Pakhtoon Warriors
10pm: Lahore Sikandars v Pakhtoon Blasters
Teams
Chennai Knights, Lahore Sikandars, Pakhtoon Blasters, Abu Dhabi Stars, Abu Dhabi Dragons, Pakhtoon Warriors and Hyderabad Nawabs.
Squad rules
All teams consist of 15-player squads that include those contracted in the diamond (3), platinum (2) and gold (2) categories, plus eight free to sign team members.
Tournament rules
The matches are of 25 over-a-side with an 8-over power play in which only two fielders allowed outside the 30-yard circle. Teams play in a single round robin league followed by the semi-finals and final. The league toppers will feature in the semi-final eliminator.
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
