UAE increases petrol and diesel prices – May 2024

Dubai raised petrol and diesel prices in May 2024. Super 98 now costs Dh3.34 per litre, Special 95 is Dh3.22, and Diesel is Dh3.03.

Petrol, diesel rates in UAE

Super 98 petrol will cost Dh3.34 per litre, up from Dh3.15. Special 95 petrol will be Dh3.22 per litre, rising from Dh3.03. E-Plus 91 petrol will be Dh3.15 per litre, compared to Dh2.96 in April. Diesel will be Dh3.07 per litre, down from Dh3.09.

The fuel price committee introduced a policy change in 2015, enabling fuel prices to vary according to market dynamics.

Recent fluctuations in oil prices are attributed to geopolitical tensions and apprehensions regarding reduced demand amidst rising inflation.

On Tuesday at 11:09 am UAE time, Brent, the worldwide oil benchmark, traded marginally lower at $88.35 per barrel. Meanwhile, West Texas Intermediate (WTI), the US crude benchmark, declined to $82.53 per barrel.

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