The UAE’s petrol prices for May 2024 have been announced, with EPlus 91 priced at AED 3.15 per litre, Special 95 at AED 3.22 per litre, and Super 98 at AED 3.34 per litre. Additionally, the price of diesel stands at AED 3.07 per litre. These prices are effective from 01 May 2024 and are expected to remain constant until the end of the month.
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Read More: Protecting Your Car in the UAE: Understanding Flood Damage Coverage
Price Changes from April to May 2024
Compared to April 2024, there has been a notable increase in petrol prices, with an increment of up to AED 0.19 per litre. Conversely, diesel prices have decreased by AED 0.02 per litre. This marks the fourth consecutive month of petrol price increases and the third decrease in diesel prices this year.
Petrol & Diesel Price Trends Over Six Months
| Fuel | EPlus 91 | Special 95 | Super 98 | Diesel |
|---|---|---|---|---|
| Dec ’23 | AED 2.77 | AED 2.85 | AED 2.96 | AED 3.19 |
| Jan ’24 | AED 2.64 | AED 2.71 | AED 2.82 | AED 3.00 |
| Feb ’24 | AED 2.69 | AED 2.76 | AED 2.88 | AED 2.99 |
| Mar ’24 | AED 2.85 | AED 2.92 | AED 3.03 | AED 3.16 |
| Apr ’24 | AED 2.96 | AED 3.03 | AED 3.15 | AED 3.09 |
| May ’24 | AED 3.15 | AED 3.22 | AED 3.34 | AED 3.07 |
This table summarizes the petrol and diesel prices in the UAE for the last six months.
Impact on Fuel Fill-Up Costs
The rise in petrol prices directly affects the cost of filling up a car’s tank. With the current increase, individuals may have to spend between AED 4.80 and AED 16.00 more for a full tank, depending on the size of their vehicle’s tank. Consequently, this leads to a significant increase in per-kilometer running costs.
Petrol Price Standardisation History
Before 2015, the UAE government heavily subsidized fuel prices, maintaining stability amidst fluctuating global oil prices. However, in September 2015, fuel prices were liberalized to align with international market rates. The Fuel Price Committee now plays a crucial role in determining fuel prices, signaling potential changes in the coming months.
Expected Changes in Fuel Prices
Given the volatility of global oil markets, further changes in fuel prices are anticipated in the UAE. It is essential for residents and visitors alike to stay informed about these fluctuations to effectively budget and plan transportation expenses.
Conclusion
In conclusion, the petrol and diesel prices in the UAE for May 2024 have seen significant changes compared to the previous month. With petrol prices continuing to rise and diesel prices experiencing intermittent drops, it is crucial for individuals to monitor these fluctuations for better financial planning.
