UAE petrol prices to reach all time high in June 2018
Posted by Zaran Tarapore on May 29, 2018
Petrol prices in the UAE will rise by almost 6% in June, following a similar increase in May 2018. The price per liter of Super 98 will go up to AED 2.63 (an increase from AED 2.49 in May and AED 2.33 in April), while the price of Super 95 will swell up to AED 2.51 (a jump from AED 2.37 in May and AED 2.22 in April). The price per liter of diesel will stand at AED 2.71 in June, a significant increase from AED 2.56 in May and AED 2.40 in April.
Although prices are expected to stay volatile due to the end of the Opec production cut agreement in March, they are in line with the rising prices in international markets. Since the deregulation of fuel prices in 2015 in the UAE, the June 2018 prices are at their highest level to date. Saudi energy minister Khalid Al Falih was quoted as saying, that Opec and its allies are likely to gradually boost oil output in the second half of the year, indicating a brake on further price rises.
Including VAT, prices for the month of June are as follows:
- Super 98: AED2.63 per liter (increase from AED 2.49)
- Special 95: AED 2.51 per liter (increase from AED 2.37)
- Diesel: AED 2.71 per liter (increase from AED 2.56)
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