Fuel Prices Increase in UAE by Up to 15% for September

The United Arab Emirates (UAE) has announced an increase in petrol and diesel prices for the month of September, continuing the trend from August. This marks another rise in fuel costs, which have been fluctuating over the past year but are currently higher than they were at the same point last year.

Starting from September 1, 2023, the new fuel prices are as follows: Special 95 petrol will cost AED 3.31, up by 9.6% from its August price of AED 3.02. Super 98 petrol will be priced at AED 3.42, marking an 8.9% increase from the previous month’s price of AED 3.14. E-Plus petrol will now cost AED 3.23, up by 9.5% from AED 2.95 in August. Diesel prices have seen the most significant hike, with a 15.3% increase from AED 2.95 to AED 3.40.

Fuel TypePrice in August (AED)Price in September (AED)Percentage Increase (%)
Special 953.023.319.6%
Super 983.143.428.9%

The UAE government has had a dynamic approach towards fuel pricing. Prior to 2015, fuel prices were regulated by the government and remained constant for extended periods, irrespective of market rates or production costs. However, in 2015, the government decided to deregulate fuel prices, allowing them to be determined by market forces such as global oil prices, supply and demand, and other economic factors.

In response to the COVID-19 pandemic in 2020, the UAE government reintroduced regulation of fuel prices to support residents and businesses affected by the global health crisis. However, this was a temporary measure, and the government returned to a deregulated system in March 2021, once again allowing market forces to dictate fuel prices.

This latest increase in fuel prices reflects the ongoing volatility in the global energy market and the impact of these fluctuations on local economies like the UAE.

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