UAE petrol prices drop 37%, diesel down 42% in a year

As of July 2023, the cost of E-Plus 91 is AED2.81 per litre, a reduction of 36.7 per cent on the same month last year when it was AED4.44.

The cost of diesel in the UAE has fallen even further. This month it costs AED2.76 per litre for diesel at the country’s fill-up stations, compared to AED.276 in the corresponding period last year.

UAE petrol and diesel prices

That makes diesel exactly AED2 per litre, or 42 per cent cheaper than last year.

Special 95 and Super 98 fuel have seen similar price drops, falling 36% and 35.2% respectively.

From July 2022 to July 2023, the cost of filling up vehicles in the UAE has fallen by:

• Special 95 – AED2.89 litre from AED4.52 in July 2022, a reduction of 36% year-on-year
• Super 98 – AED3.00 a litre from AED4.63 in July 2022, a reduction of 35.2% year-on-year
• E-Plus – AED2.81 a litre from AED4.44 in July 2022, a reduction of 36.7% year-on-year
• Diesel – AED2.76 a litre from AED4.76 in July 2022, a reduction of 42% year-on-year

Throughout the year, petrol prices have been fluctuating due to the global energy market dynamics on pump prices. The UAE’s Fuel Price Committee meet every month to decide on whether prices will increase or decrease.

Petrol prices have alternated between a monthly decrease and increase every month so far this year. Between January and July every month with a reduction in the price of petrol has been followed by an increase.

Diesel in the UAE, however, has reduced in price every month of 2023.

In 2020, the Fuel Price Committee implemented price freezes. However, these restrictions were lifted in March 2021 to correspond with the global surge in oil prices. Moreover, the cost of petrol is influenced by the trend of crude oil prices on a global scale.

Diesel and petrol price falls in past year