Either today or tomorrow, the UAE Fuel Price Committee is expected to release the price of petrol and diesel for the month of May 2023. Since the government deregulated oil prices in August 2015 to put them in line with the world rates, the nation has been updating retail petrol prices on the last day of each month. After two months of hikes, petrol prices in the UAE decreased by 8 fils per litre last month. Super 98, Special 95, and E-Plus were each priced at Dh3.01, Dh2.90, and Dh2.82 per litre for the month of April, respectively. By bringing domestic petrol prices into line with global averages, the government will spend less on subsidies, and gasoline retailers would benefit as well. Due to low tax rates, the UAE has significantly lower petrol prices than the US and the majority of Asian and European nations. Consumers in the UAE are only subject to a 5% value-added tax (VAT). Following the Russia-Ukraine war, prices peaked in the UAE in June and July of last year, reaching Dh4.63 per litre.
Month
Super 98
Special 95
E-Plus
January (2022)
2.65
2.53
2.46
February
2.94
2.82
2.75
March
3.23
3.12
3.05
April
3.74
3.62
3.55
May
3.66
3.55
3.48
June
4.15
4.03
3.96
July
4.63
4.52
4.44
August
4.03
3.92
3.84
September
3.41
3.3
3.22
October
3.03
2.92
2.85
November
3.32
3.20
3.13
December
3.30
3.18
3.11
January (2023)
2.78
2.67
2.59
February
3.05
2.93
2.86
March
3.09
2.97
2.90
April
3.01
2.90
2.82