The fuel price committee has announced the diesel and petrol prices for April 2023 in the UAE. The announcement was made on Friday March 31.
Since the government deregulated oil prices in August 2015 to align them with global rates, the retail petrol prices in UAE have been regularly revised on the last day of each month.
In the UAE, the cost of petrol has increased for the last two consecutive months.
UAE new petrol price in April 2023
- Super 98: Dhs3.01
- Super 95: Dhs2.90
- E-Plus 91: Dhs2.82
- Diesel: Dhs3.03
The alignment of local petrol rates with the international rates brings several benefits, including a reduction in the government’s subsidy burden and support for fuel retailers.
Compared to the United States, Asia, and Europe, petrol prices in the UAE remain relatively low due to their low tax rates. The country imposes a mere five per cent value-added tax (VAT) on consumers, contributing to the affordability of petrol prices.
The UAE experienced a peak in fuel prices during June and July of last year, when tensions escalated between Russia and Ukraine, resulting in prices reaching as high as Dhs4.63 per litre within the country.
tanvir@dubainewsweek.com
