UAE Sees An Increase In Fuel Prices For August

UAE Sees An Increase In Fuel Prices For August

The fuel prices for August have just been announced across the nation

Petrol prices across the UAE will see an increase of 23.6% this August, resulting from an initial charge of Dh1.72 per litre of Octane, Special 95 to Dh2.14 now. According to a report in The National, the revised price for Super 98 has been set at Dh2.25 and E Plus at Dh2.07. 

The revised prices will be applicable from August 1 and will carry on until a new price is announced on the 28th of August. The daily further states that Dr Matar Al Nyadi, Undersecretary for the Ministry of Energy and chair of the Fuel Price Committee, said the new prices were based on average global prices for petrol and diesel during the month of July with the addition of transport, distribution and operating costs — as approved by the Cabinet for distribution companies.

“The Ministry has coordinated with all relevant entities in the country including the Ministry of Economy and the Supreme Committee for Consumer Protection to monitor the movement of prices and safeguard the rights of consumers. This will ensure that people across the country benefit from lower diesel prices, which would mean lower operating costs for a wide number of vital sectors such as industry, shipping and cargo,” he added. 

The changes have been made to promote "rationalised consumption' across the nation along with protecting the environment and preserving national resources.