UAE fuel prices drop by 34% in 3 months; some residents to save up to Dh1,300 on petrol in October
Retail fuel prices in the UAE have dropped by more than one-third from their peaks in the past three months, resulting in more than Dh1,300 in monthly savings for some motorists.
The UAE residents say that they plan to go to the office and opt for other outdoor activities more often now as compared to July when fuel prices were at the highest in the country’s history.
The UAE fuel price committee announced prices for October on Friday:
The prices in October are cheaper by 34.55 per cent, 35.4 per cent and 35.8 per cent, respectively, from their peaks in July 2022.
Since the UAE announced the deregulation of local oil prices in August 2015, the fuel price committee announces new rates at the end of every month. The decision to bring local fuel prices in line with global rates was taken to achieve a balance between economic and social development and to provide a high quality of life for the residents and future generations.
News Source: Khaleej Times