The Fuel Price Committee has declared an increase in UAE Fuel prices for May 2019. This is the third consecutive increase this year, which is alarming for consumers in the Emirates.
إليكم أسعار الوقود ⛽ لشهر مايو وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/QIplQJQ7E5
— ENOC (@enoc_official) April 29, 2019
The authorities have set the price of Super 98 at Dh2.48 per liter (an increase of 25 fils compared to April). Special 95 is set at Dh2.34 (a 23 fils bump), while diesel will cost Dh2.53 (a rise of 4 fils).
This is more than a 10% increase for Super 95 and Super 98 while the diesel is bumped by 1.6%. Since the start of this year, oil prices went up by 33%. The recent increase can be attributed to the sanctions imposed by the U.S. on Iranian oil purchase.
However, the U.S. is looking to keep the prices down and have talked to the Opec nations in this regard. Trump also tweeted about it:
Spoke to Saudi Arabia and others about increasing oil flow. All are in agreement. The California tax on gasoline is causing big problems on pricing for that state. Speak to your Governor about reducing. Economic numbers, 3.2% GDP for what is often worst quarter, looking good!
— Donald J. Trump (@realDonaldTrump) April 26, 2019
In the United Arab Emirates, prices were their all-time high (since Nov 2014) in the second half of last year and then they were dropped to under Dh2. They again started to rise as the New Year began.