With yet another price hike, the United Arab Emirates (UAE) has adjusted its fuel and diesel prices for September.
Fuel costs in the UAE have fluctuated throughout the past year, but they are now higher than they were at this time last year.
Here are the new petrol and diesel prices starting from 1 September 2023:
Fuel Type | Price in August (AED) | Price in September (AED) | Percentage Increase (%) |
Special 95 | 3.02 | 3.31 | 9.6% |
Super 98 | 3.14 | 3.42 | 8.9% |
E-Plus | 2.95 | 3.23 | 9.5% |
Diesel | 2.95 | 3.40 | 15.3% |
How UAE Determines Fuel Prices
Prior to 2015, the UAE government controlled and long-term maintained fuel prices. This suggested that pricing were independent of market rates and production costs.
As a result of the UAE government’s removal of gasoline price regulations in 2015, market forces, including fluctuations in supply and demand as well as worldwide oil prices, now determine fuel prices.
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However, with the start of the COVID-19 epidemic in 2020, the UAE government made the decision to control fuel prices once more in order to support the affected citizens and companies.
In March 2021, the UAE made the decision to once again de-regulate fuel prices, allowing the market to determine their value.
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