The Ministry of Energy has raised UAE fuel prices for the month of May 2017 by six fils petrol and two fils diesel. The announcement was made on Sunday and prices were implemented yesterday. Here’s the breakdown of the previous vs current UAE fuel prices.
| Fuel | New Price | Old Price |
| Super 98 | Dh2.01 | Dh1.95 |
| Special 95 | Dh1.90 | Dh1.84 |
| E Plus 91 | Dh1.83 | Dh1.77 |
| Diesel | Dh1.97 | Dh.195 |
The rise in fuel prices is the outcome of an accord between Opec (Organization of the Petroleum Exporting Countries) and non-Opec members to cut their production by around 1.8 million barrels per day from January 1. This agreement is likely to extend by the end of this year due to high oil inventories.
In the international market, the global benchmark Brent crude stands at $52.05 per barrel, while the US crude West Texas Intermediate is being traded at $49.33 per barrel.
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