DUBAI : The UAE Fuel Price Committee has reduced prices across all fuel grades for July, marking the first monthly decrease in fuel costs after four consecutive months of increases driven by regional tensions and soaring global oil prices.
From July 1, Super 98 petrol will cost Dh3.40 per litre, down from Dh3.95 in June. Special 95 has been reduced to Dh3.29 from Dh3.83, while E-Plus 91 will retail at Dh3.21, down from Dh3.76. Diesel prices have also dropped sharply to Dh3.60 per litre from Dh4.33.
The reductions, ranging from 13.9 to 16.9 per cent, are among the largest month-on-month cuts since the UAE introduced market-linked fuel pricing in 2015.
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For motorists, the lower prices translate into noticeable savings. Filling a typical 60-litre sedan with Super 98 will now cost around Dh204, compared with Dh237 in June, saving about Dh33 per tank. Drivers of 80-litre SUVs and 4x4s can expect to save around Dh44 on every refill.
The price revision follows a sharp correction in global oil markets. Brent crude, which surged above $110 per barrel during heightened regional tensions and disruptions to shipping through the Strait of Hormuz, has fallen to around $73 per barrel as commercial shipping resumed and concerns over prolonged supply disruptions eased.
Before fuel prices began rising in February, Super 98 sold for Dh2.45 per litre, while Special 95 and E-Plus 91 were priced at Dh2.34 and Dh2.26, respectively.
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