Motorists across the UAE will find filling up their vehicles will cost a little bit extra in May.
The Fuel Price Committee announced a rise in prices for the third consecutive month – after prices were held at the same level for nearly a year. However, it is good news for haulage and heavy goods drivers as the cost of diesel has fallen.
The breakdown per litre is as follows:
• Super 98: Dh2.30 – up from Dh2.29 in April
• Special 95: Dh2.18 – up from Dh2.17 in April
• Diesel: Dh2.17 – down from Dh2.22 in April
Petrol prices in the UAE were liberalised in August 2015 to allow them to move in line with the market. However, they were held by the Fuel Price Committee last year, following the onset of the coronavirus pandemic.
Prices began to be readjusted in February and will have risen 20 per cent for Super 98, 21 per cent for Special 95 and 9 per cent for diesel once the new prices come into force in May.
Global oil prices have recovered this year since the dramatic lows of last year brought about by the pandemic.
Oil extended gains on Thursday after rising 1 per cent the previous session, as bullish forecasts on recovering demand this summer outweighed concerns about the impact of rising Covid-19 cases in India, Japan and Brazil.
Brent crude for June rose 22 cents, or 0.3 per cent, to $67.49 a barrel by 0405 GMT while US West Texas Intermediate crude for June was at $64.04 a barrel, up 18 cents, or 0.3 per cent.