UAE petrol and diesel prices to drop in June

The UAE Ministry of Energy announced today that consumers will pay Dh1.96 a litre for Super 98 in June. Mona Al Marzooqi / The National

Petrol and diesel prices will fall starting on Thursday as the price of crude oil remains low, and Super 98 is back below Dh2 a litre.

The UAE Ministry of Energy announced today that consumers will pay Dh1.96 a litre for Super 98, down 2.5 per cent from May’s level of Dh2.01; Special 95 will decline 2.6 per cent to Dh1.85; and E Plus will cost Dh1.78, a decline of 2.7 per cent.

Diesel will drop 3.6 per cent to Dh1.90 from May’s Dh1.97.

The Ministry of Energy began liberalising fuel prices nearly two years ago using “benchmark prices” that have not been publicly disclosed.

The price of a barrel of Brent crude closed on Friday at $52.15, down 8.2 per cent from the price of $56.82 at the start of the year, but up 0.8 per cent from the $51.73 at which it started May. A group of 24 Opec and non-Opec countries agreed to extend their output cuts by another nine months. The original pact was to have ended at the end of this June.

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