We have a feeling UAE motorists are not going to be too happy about the fuel prices for the month of September whether they drive their new or used cars in Dubai. For two straight months, fuel prices in the UAE have increased. This time around, the increase is pretty substantial, so brace yourselves.
The Ministry of Energy recently issued the fuel prices for the month of September. Accordingly, the price of Super 98 has been revised to 2.01Dh per liter, Special 95 to 1.90Dh per liter, E-Plus to 1.83Dh per liter, and diesel to 2.00Dh per liter. That’s a whopping 0.12Dh per liter increase in rates for all three petrol variants as well as diesel compared to the last month’s 0.03Dh per liter increase (0.04 per liter for diesel).
Bear in mind that this is the sixth time that fuel rates have gone up in the UAE this year after the price hikes in January, February, March, May, and August. As always, fluctuations in international crude oil prices and changes in the supply-demand equation are responsible for the surge in rates.
There’s more to it than meets the eye. Fuel prices in the UAE are dependent not just on the average global fuel prices. The operating costs and profit margins for the distributing companies in the UAE also have a hand in the calculations.
Good news is, things appear to be on the mend as far as global oil demand is concerned so the fuel prices might stabilize in the near future. The deal between OPEC and non-OPEC members to cut production by 1.8 million barrels per day starting from January 2017 has been largely responsible for the fluctuating fuel prices this year. It’s valid till March 2018 but it might be extended further to reduce oversupply in the market. So, let’s keep our fingers crossed and hope for the best!
In the meantime, if you are thinking of investing in fuel-efficient used cars Dubai to counter the rising fuel prices, CarSwitch has you covered. Check out our inventory of second hand cars in Dubai, UAE featuring many fuel-effective car brands and select your dream car. Happy switchin’, folks!
