Petrol and diesel prices will fall in April.
The federal Ministry of Energy announced today that consumers will pay Dh1.95 a litre for Super 98, down 3.9 per cent from March; Special 95 will cost Dh1.84, down 4.2 per cent; and E Plus will cost Dh1.77, down 4.3 per cent.
Diesel will cost Dh1.95, down 3.4 per cent.
This comes after prices rose in February and March.
In March, motorists paid Dh2.03 a litre for Super 98, Dh1.92 for Special 95 and Dh1.85 for E Plus. Diesel cost Dh2.02.
In February, motorists paid Dh2 for Super 98, Dh1.89 for Special 95 and Dh1.82 for E Plus. Diesel cost Dh2 a litre.
And in January, Super 98 was at Dh1.91 per litre, Special 95 at Dh1.80 and E Plus at Dh1.73. Diesel was Dh1.94.
While the fuel price increases contributed to consumer price inflation in the first part of this year, they are largely driven by increases in crude oil prices – which in other ways strengthen the country’s economy.
A barrel of Brent crude was trading at US$50.91 today. The price began the year at $56.82 but had been down at $46.38 before the multilateral deal late last year to cut output.
Fuel prices are set by a Ministry of Energy-led committee using “benchmark prices” that have not been publicly specified.
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