Fuel prices in the UAE will see an increase during the month of August.
Starting from August 1, 2023, Super 98 will be priced at Dhs3.14 per litre, rising from the previous Dhs3 per litre. Similarly, Special 95 will be available at Dhs3.02 per litre, up from Dhs2.89 in July. Diesel will also experience an increase, with the new price set at Dhs2.95 per litre, compared to Dhs2.76 in the previous month.
The prices mentioned above are inclusive of the five per cent VAT.
Since August 2015, the UAE's Ministry of Energy adopted a practice of setting fuel prices in line with average global prices. Before this change, the government used to subsidize petrol prices in the UAE, which protected consumers from being directly affected by international fluctuations in the cost of petrol.