The United Arab Emirates is offering motorists a reprieve from rising fuel costs, with a notable reduction in prices for July. This comes as the nation’s Fuel Price Committee has announced cuts across all categories, including Super 98, Special 95, E-Plus, and diesel, marking the first decrease since February. The adjustment is a response to falling global crude oil prices as the supply situation in the region has shown improvement.
For motorists, this means Super 98 petrol will now be priced at Dh3.40 per litre, down from Dh3.95. Special 95 and E-Plus have also seen a reduction exceeding 50 fils per litre. Diesel, however, experienced the most substantial price drop, decreasing by 73 fils to Dh3.60 per litre. This price relief comes after a period of elevated costs linked to disruptions in the global oil markets.
June saw a decline in global oil prices, attributed to diminishing fears of prolonged disruptions to shipping through the Strait of Hormuz and successful diplomatic efforts that helped stabilize the situation. As a result, Brent crude has edged closer to levels seen before the recent conflicts.
While fuel costs remain higher than at the start of the year, the adjustments for July are expected to alleviate some financial pressure on commuters and families. Experts suggest that the future trajectory of fuel prices will largely depend on the stability of geopolitical tensions and the continued recovery of global oil supplies.