UAE Fuel Price Committee Cuts Petrol Rates for June to Ease Costs

The UAE Fuel Price Committee has announced a reduction in retail petrol prices for June 2024, offering relief to motorists after three consecutive months of increases. The new rates, which include a 20-fils cut for all petrol grades, will come into effect across the country on Saturday, June 1. Revised Fuel Rates for June According to the official announcement, Super 98 petrol will be priced at Dh3.14 per litre, down from Dh3.34 in May. Special 95 petrol has been reduced to Dh3.02 per litre from the previous month’s rate of Dh3.22. E-Plus 91 petrol will now cost Dh2.95 per litre, compared to Dh3.15 in May. Diesel prices remain unchanged for the second consecutive month, holding steady at Dh3.07 per litre. These price adjustments are based on the average global price of oil and include the operating costs of distribution companies within the UAE. Global Market Influence The price reduction follows a period of fluctuation in global crude oil benchmarks. The UAE deregulated fuel prices in August 2015, moving from a fixed-price system to a market-aligned mechanism. Since then, the Fuel Price Committee has met monthly to adjust retail prices to reflect international market trends.…