UAE motorists face jump in petrol prices in May
Fuel prices are going up an average of 15 fils across Super 98, Special 95 and Diesel
Filling up your car at the pumps in May will cost significantly more than it did in April.
Enoc today released the fuel prices inclusive of VAT for next month.
The price of Super 98 and diesel will rise 16 fils, and Special 95 will increase by 15 fils.
Here's the breakdown:
• Super 98: Dh2.49 a litre (up from Dh2.33 in April)
• Special 95: Dh2.37 (up from Dh2.22)
• Diesel: Dh2.56 (up from Dh2.40)
Since January, the price for Super 98 and Special 95 has jumped 25 fils, and diesel 23 fils. That's an 11 per cent rise for Super 98, 12 per cent for Special 95 and a 10 per cent increase for diesel.
Fuel prices were liberalised about two years ago and now prices move with the market. Prices in the UAE stayed the same when the last announcement was made in April - but diesel dropped slightly.
International oil prices hit their highest levels in four years, pushed up by expectations of renewed US sanctions against Iran and as Opec continues withholding supplies amid strong demand.
Brent crude futures, the international benchmark for oil prices, climbed as high as $75.20 in early trading last Tuesday, levels not seen since November, 2014.
Wondering how fuel prices are then calculated? Read our explainer
Updated: April 30, 2018 01:40 PM