Latest news with #petrolprices
Arabian Business
3 days ago
- Business
- Arabian Business
UAE freezes petrol prices for June 2025
The UAE has frozen petrol prices for consumers in June 2025. Petrol prices will be unchanged from May, with a slight decrease for diesel as fuel costs remain stable. It follows a virtual freeze in May and means prices are their most stable in months. It is currently cheaper to fill up a tank than year ago, with all categories becoming more affordable, despite prices fluctuating throughout the past 12 months. UAE petrol prices June 2025 In June 2024, E-Plus 91 was priced at AED2.95 a litre, while diesel was set at AED2.88 a litre. On current prices, E-Plus 91 is cheaper (at AED2.39 a litre) than at this time last year. Special 95 and Super 98 are also cheaper now than a year ago, falling from AED3.02 to AED2.47 a litre and AED3.14 to 2.58 a litre respectively. From June 1, the cost of filling up vehicles in the UAE will be: E-Plus: AED2.39 a litre from AED2.39 in May Special 95: AED2.47 a litre from AED2.47 in May Super 98: AED2.58 a litre from AED2.58 in May Diesel: AED2.45 a litre from AED2.52 in May In response to the COVID-19 pandemic in 2020, the Fuel Price Committee froze petrol prices in the UAE, preventing any changes. However, in March 2021, as global oil prices began to rise, the controls were lifted to allow market forces to determine petrol prices once again. Moreover, the fluctuation in petrol prices is also influenced by changes in crude oil prices worldwide. UAE fuel prices Prices in AED per litre E-Plus 91 Special 95 Super 98 Diesel June 2025 2.39 2.47 2.58 2.45 May 2025 2.39 2.47 2.58 2.52 April 2025 2.38 2.46 2.57 2.63 March 2025 2.54 2.61 2.73 2.77 February 2025 2.55 2.63 2.74 2.82 January 2025 2.43 2.50 2.61 2.68 December 2024 2.43 2.50 2.61 2.68 November 2024 2.55 2.63 2.74 2.67 October 2024 2.47 2.54 2.66 2.60 September 2024 2.71 2.78 2.90 2.78 August 2024 2.86 2.93 3.05 2.95 July 2024 2.80 2.88 2.99 2.89 June 2024 2.95 3.02 3.14 2.88 May 2024 3.15 3.22 3.34 3.07 April 2024 2.96 3.03 3.15 3.09 March 2024 2.85 2.92 3.03 3.16 February 2024 2.69 2.76 2.88 2.99 January 2024 2.64 2.71 2.82 3
Khaleej Times
27-05-2025
- Business
- Khaleej Times
UAE: Will petrol prices drop in June after inching up in May?
Petrol prices in the UAE could see a small cut when new rates are announced for June 2025 at the end of this month. Brent oil mostly traded in the low $60s a barrel range in May 2025, which is slightly lower than last month. On Tuesday, WTI Crude and Brent were trading slightly lower at $61.44 and $64.68 per barrel, respectively. For the month of May, the UAE inched up prices by just one fils per litre, pricing Super 98, Special 95 and E-Plus 91 at Dh2.58, Dh2.47 and Dh2.39 per litre, respectively. In the UAE, petrol prices have been revised at the end of every month ever since the country deregulated fuel prices in 2015. For the month of June, prices could be revised down slightly as the average closing price of Brent was $63.6 a barrel compared to previous months' $66.6 per barrel. However, an official announcement about new rates for June will be made at the end of this month. Oil prices are likely to come under further pressure as energy-producing group Opec+ is likely to increase output further in its meeting this week. 'Crude oil has declined sharply this year amid concerns that US President Donald Trump's import tariffs could dent economic growth and curb demand, just as Opec+ accelerates output increases to protect market share. Oil opened the year near $74.93 and surged to $82.63 by mid-January, only to reverse course sharply, tumbling to $58.40 by April 9. A modest rebound followed, lifting prices to around $65 by late May — but that still leaves oil nearly 20 per cent below its early-year peak,' said Vijay Valecha, chief investment officer at Century Financial.
Arabian Business
26-05-2025
- Automotive
- Arabian Business
UAE petrol prices to change for June 2025
The UAE is set to announce petrol prices for June 2025 this week. Petrol prices increased fractionally sharply in May, following two months of increases, although prices for motorists filling up on Super 98, Special 95, E-Plus 91 and diesel have remained stable. It is currently significantly cheaper to fill up a tank than year ago, with all categories becoming more affordable, despite prices fluctuating throughout the past 12 months. UAE petrol prices May 2025 In May 2024, E-Plus 91 was priced at AED3.15 a litre, while diesel was set at AED3.07 a litre. On current prices, E-Plus 91 is cheaper (at AED2.39 a litre) than at this time last year. Special 95 and Super 98 are also cheaper now than a year ago, falling from AED3.22 to AED2.47 a litre and AED3.34 to 2.58 a litre respectively. Since May 1, the cost of filling up vehicles in the UAE has been: E-Plus: AED2.39 a litre from AED2.38 in April Special 95: AED2.47 a litre from AED2.46 in April Super 98: AED2.58 a litre from AED2.57 in April Diesel: AED2.52 a litre from AED2.63 in April In response to the COVID-19 pandemic in 2020, the Fuel Price Committee froze petrol prices in the UAE, preventing any changes. However, in March 2021, as global oil prices began to rise, the controls were lifted to allow market forces to determine petrol prices once again. Moreover, the fluctuation in petrol prices is also influenced by changes in crude oil prices worldwide. UAE fuel prices Prices in AED per litre E-Plus 91 Special 95 Super 98 Diesel May 2025 2.39 2.47 2.58 2.52 April 2025 2.38 2.46 2.57 2.63 March 2025 2.54 2.61 2.73 2.77 February 2025 2.55 2.63 2.74 2.82 January 2025 2.43 2.50 2.61 2.68 December 2024 2.43 2.50 2.61 2.68 November 2024 2.55 2.63 2.74 2.67 October 2024 2.47 2.54 2.66 2.60 September 2024 2.71 2.78 2.90 2.78 August 2024 2.86 2.93 3.05 2.95 July 2024 2.80 2.88 2.99 2.89 June 2024 2.95 3.02 3.14 2.88 May 2024 3.15 3.22 3.34 3.07 April 2024 2.96 3.03 3.15 3.09 March 2024 2.85 2.92 3.03 3.16 February 2024 2.69 2.76 2.88 2.99 January 2024 2.64 2.71 2.82 3
RNZ News
26-05-2025
- Automotive
- RNZ News
Petrol price wars see cost of fuel drop to $2.12 a litre
U-Go self-service stations in Auckland are offering 91 unleaded at $2.23 a litre. File photo. Photo: Marika Khabazi Petrol price battles in Auckland - sparked by a new no-frills service station on the market - have seen prices fall as low as $2.12 a litre in some suburbs, but do not expect the big savings to last for long, says a fuel price expert. There are now nine U-Go self-service stations in Auckland, offering 91 unleaded at $2.23 a litre, when the average is about $2.51. In one Auckland suburb, the cheaper petrol led to an opposition gas station dropping the price as low as $2.12 over the weekend. But Automobile Association principal policy advisor Terry Collins warned motorists that those kind of prices would not last for long. He said U-Go has entered the market by dropping the price down low in a similar way to supermarkets with their loss leaders, where certain products are sold at cost. "I think they've got very close to that margin and a neighbouring Mobil service station, rather than lose clients, responded by dropping their prices. "If it is around $2.12, I don't think it's sustainable, but look, long may it continue if they do want to get into short-term price wars like that. I just think under $2.20 is a really good price." He told Checkpoint that the stations would be trying things like larger discounts over the weekend to see what happens with their volume of sales. "They just want to get some new clientele, it's a pretty irresistible offer when you offer it at that price. "I couldn't imagine it happening every weekend, but we do know they are competitive, they will have specials, they will have discounts, and they're basically trying to maintain volume in tough economic conditions." While U-Go stations were only currently operational in Auckland, motorists could expect to see more of them throughout the country, as more Caltex stations are converted to the low-cost model. "What it's proven is that these low cost operators, consumers really like them, and now there is a definite niche in the market for them, we've got Allied, NPD, Gull, U-Go. They seem to be a growing segment of the market which provide cheaper fuel." Collins said oil prices on the international market had stabilised around $65 a barrel. "With the US administration causing a bit of mayhem in the market, there is more bang for buck with US dollars, and oil prices are cheaper around the $60-65 mark." Z Energy, which owns the U-Go brand, did not directly respond to questions about whether the lower price was here to stay, saying pricing was localised and could be different at each site, depending on factors like competition. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Dubai inflation eases to 2.3% in April as fuel prices drop, housing remains key driver
Dubai's annual inflation rate slowed to 2.3 per cent in April, down from 2.8 per cent in March, according to data released on Tuesday. This marks the slowest pace of annual price growth since mid-2023, driven largely by a significant drop in petrol prices, which helped offset continued upward pressure from housing costs, according to Emirates NBD Research. On a monthly basis, consumer prices rose 0.3 per cent, reversing the 0.1 per cent decline recorded in March. So far in 2025, average annual inflation stands at 2.8 per cent, aligning with Emirates NBD's earlier forecasts. 'With oil prices expected to remain under pressure for the rest of the year and most other components of the basket showing only weak price growth, we have revised our inflation projection down to an average of 2.5 per cent for 2025, compared to 3.3 per cent in 2024,' said Daniel Richards, Senior Economist at Emirates NBD. Housing costs continue to dominate inflation Housing remains the largest and most inflationary component of the consumer price index (CPI), accounting for around 40 per cent of the basket. Although housing inflation moderated to a seven-month low of 7.0 per cent year-on-year in April, it remains elevated, only slightly down from 7.2 per cent in March. Month-on-month, housing prices rose 0.4 per cent, unchanged from the previous month. 'Rent increases have been slowing, with the general average up 9.8 per cent year-on-year in April—the slowest pace since December 2021. This suggests some easing of housing-related pressure on headline CPI,' Richards noted. Education and healthcare see slower price growth Beyond housing, education and healthcare have been the other notable contributors to inflation. Education, which makes up 8.2 per cent of the CPI basket, saw prices rise 2.5 per cent year-on-year in April, down from 2.8 per cent in March. Healthcare, accounting for 0.9 per cent of the basket, recorded a 3.0 per cent increase, slightly lower than the 3.1 per cent seen the previous month. Earlier this month, the Knowledge and Human Development Authority (KHDA) set the education cost index for private schools at 2.4 per cent for the 2025/26 academic year, compared to 2.6 per cent for 2024/25, which could help moderate education inflation going forward. Other categories show weak or negative inflation Most other components of the CPI basket showed either weak inflation or outright deflation. Food and beverages was down 0.2 per cent year-on-year. Restaurants and accommodation gained 0.6 per cent, compared to 0.3 per cent in March. Clothing and footwear fell 2.8 per cent, as retailers continue to offer discounts. Household furnishings rose 0.5 per cent, slightly higher than 0.4 per cent in March. Transport prices drive down headline inflation Transport, which makes up about nine per cent of the CPI basket, remains a key variable due to its sensitivity to global oil prices. In April, transport prices fell 7.6 per cent year-on-year, a sharp drop from the 3.3 per cent decline in March. This reflects a significant decrease in fuel costs — a litre of Super 98 petrol in April 2025 was 18.4 per cent cheaper than a year earlier. In May, Super 98 is priced at Dh2.58 per litre, just one fil higher than in April but still 22.8 per cent lower than the Dh3.34 per litre recorded in May 2024. 'With oil prices forecast to average $68 per barrel in 2025, down from $80 in 2024, transport will continue to exert downward pressure on headline inflation,' Richards added. Dubai's inflation outlook for 2025 appears moderate, with falling fuel prices and easing rent growth helping to contain overall price pressures. However, housing remains a key area to watch, given its outsized influence on the CPI.
