Will Fuel Prices Increase Or Decrease? UAE To Announce Prices For October

by Deeplata Garde
Will Fuel Prices Increase Or Decrease? UAE To Announce Prices For October

Fuel prices in UAE are a subject of heavy debate. The rise and fall of fuel prices are very uncertain as observed in the last few months. Every following month of the 1st Quarter of 2022 saw an alternative pattern in the increase and decrease of fuel prices. So according to this trait, we can only guess that the price might increase depending on the last month.

UAE Fuel Prices For October Yet To Be Announced

The set date for the announcement is 30/9/22 or 1/10/22. Until the committee releases the final fuel pricing we can just enjoy our guessing game. The price chart will be in alignment with local fuel pricing with international prices.

After energy prices fell due to concerns about a recession, the nation cut rates for two consecutive months. Since the UAE declared deregulation in 2015, authorities have revealed updated fuel prices on the last day of every month. This practice is constant for the past three months in a row. Previously, the committee announced the fuel prices during the final week of every month.

Also Read: UAE Fuel Prices Drop: Here’s How Much To Pay For A Full Tank

Year Wise Surge

Months 2021 2022
Jan Dhs 1.91 Dhs2.65
Feb Dhs1.91 Dhs2.94
March Dhs2.21 Dhs3.23
April Dhs2.29 Dhs3.74
May Dhs2.30 Dhs3.66
June Dhs2.38 Dhs4.15
July Dhs2.47 Dhs4.63
August Dhs2.58 Dhs4.03
September Dhs2.55 Dhs3.41
October Dhs2.60
November Dhs2.80
December Dhs2.77

Increased Consumption Of Fuel In UAE

Credits: Pixabay.com

Retail fuel consumption is increasing as the UAE’s economy recovers from the epidemic. This has resulted in an increase in economic activity. Although the quantities of fuel are rising quickly, particularly in the jet fuel market, fuel usage has not yet returned to its pre-pandemic level. The statistics suggest that it’s still 15% lower. Although progressively recovering, retail fuel prices are still 10% to 15% below pre-pandemic levels.

Cover Image Courtesy: Canva Image