The newly announced prices for April 2024 will be the highest in six months.
Petrol prices hit 6-month high in UAE: Here’s latest price for April. From taking short cuts to stopping projects, UAE residents are looking for ways to reduce their petrol consumption as fuel prices rise for the third month in a row.
Newly announced prices for April 2024 will be the highest in six months.
Prices have been increased by about 3.9% for April with Super 98 petrol priced at Dh3.15 per litre, Special 95 petrol at Dh3.03 and E Plus 91 at Dh2.96. Diesel prices have been revised to Dh3.09 per liter for April as against Dh3.16 in March.
For Syrian expat Fatan Mohammed, who lives in Ajman and works in Jebel Ali, the price hike is going to hit him hard. “Next month I will have to spend about Dh500 more in terms of petrol costs,” he said. “That’s very bad news for me, especially considering all the other price increases.”
According to the 33-year-old, she has been changing her time and route based on petrol prices in the past few months. “Prices are constantly increasing, so I have taken steps to reduce my petrol consumption,” he said. “I leave home at 5 am because the traffic is relatively light at that time. More traffic means more petrol consumption. I also use Mohammed Bin Zayed Road instead of Emirates Road because the distance is shorter.
Since the UAE announced the deregulation of retail fuel prices in 2015, prices are revised at the end of each month to align them with global rates.
These are the highest prices in the last 6 months, when Super 98, Special 95 and E Plus were selling at Dh3.44, Dh3.33 and Dh3.26 per liter in October 2023.
Blocking projects
Shiaz Iqbal, another resident of Dubai, said that he is also going to be affected by the increase in petrol prices. “I work in sales so it will definitely make a difference because most of the day I’m dealing with customers,” he said. “For the next month, I will have to spend at least Dh100 extra for petrol. I think I will start using the metro more if the prices keep going up like this.”
He said he was considering changing his car but would stick with the plan for now. “I have a Toyota Yaris, which I bought specifically for low petrol consumption,” he said. “I was thinking of buying a bigger vehicle for my family but I will keep the plan for now because if I do it at these prices, petrol prices will go up quickly.”
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During March, Brent prices averaged around $84.25 a barrel compared to $81.3 in the previous month, an average price increase of $3 reflected in revised April prices.
Crude oil prices hit a four-month high in mid-March as the International Energy Agency forecast a tighter market and increased demand this year.
WTI and Brent ended the week at $83.17 and $87.0 per barrel.
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