The Ministry of Energy and Industry has decreased UAE fuel prices for July 2019, providing motorists the much-needed breather. The prices have been increasing since March 2019.
Super 98 dropped to Dh2.30 from Dh2.53 while Special 95 fell to Dh2.18 from Dh2.42. The Diesel price also went down to Dh2.35 from Dh2.56 in June.
⛽ July’s fuel prices as per the #UAE fuel committee are out. Check them below. #InspiringEnergy
إليكم أسعار الوقود ⛽ لشهر يوليو وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/Qy2WcMoUnz
— ENOC (@enoc_official) June 27, 2019
Oil prices retreated recently, because the U.S., China trade war got intense. Trump has threatened China with more tariffs. He is also putting pressure on the Organization of Petroleum Exporting Countries (OPEC) and its associates.
“The uncertainty ahead of this weekend’s G20 and next week’s OPEC meetings are likely to keep the upside capped for now,” stated Ole Sloth Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. “Failure at the weekend would see the market focus return to global growth and demand worries.”