Introduction Of UAE
In a move that will bring some relief to motorists, the UAE announced on Friday the retail fuel prices for June 2024. The new rates, which are set to take effect from June 1, reflect a reduction of 20 fils per litre across various fuel categories compared to the previous month. This change is part of the UAE’s monthly adjustment of fuel prices, which is determined by the average global price of oil and includes the operating costs of distribution companies.
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New Fuel Prices for June 2024
The Fuel Prices Monitoring Committee revealed the new prices for different categories of petrol, showing a uniform decrease of 20 fils per litre. The rates for June are as follows:
| Category | Price per litre (June) | Price per litre (May) | Difference |
|---|---|---|---|
| Super 98 petrol | Dh3.14 | Dh3.34 | 20 fils |
| Special 95 petrol | Dh3.02 | Dh3.22 | 20 fils |
| E-plus 91 petrol | Dh2.95 | Dh3.15 | 20 fils |
Cost Savings for Motorists
This reduction in fuel prices means that depending on the type of vehicle and its fuel tank capacity, UAE motorists can expect to save between Dh10.20 and Dh14.80 on a full tank of petrol compared to last month. Here is a breakdown of the potential savings:
- Super 98 petrol: For a vehicle with a 50-litre tank, filling up will cost Dh157, down from Dh167 in May, saving Dh10.
- Special 95 petrol: For the same 50-litre tank, the cost will be Dh151, down from Dh161, saving Dh10.
- E-plus 91 petrol: A full tank will cost Dh147.50, down from Dh157.50, saving Dh10.
For vehicles with larger tanks, the savings will be proportionally higher. For instance, filling a 70-litre tank with Super 98 petrol will now cost Dh219.80, compared to Dh233.80 last month, resulting in savings of Dh14.
Impact on Consumers
The reduction in fuel prices is likely to be welcomed by consumers, particularly those who rely heavily on their vehicles for daily commuting or business purposes. Lower fuel costs can also have a positive ripple effect on the overall economy by reducing transportation costs and potentially lowering the prices of goods and services.
Conclusion
The UAE’s decision to cut fuel prices for June 2024 by 20 fils per litre across all petrol categories offers tangible savings for motorists. By aligning local fuel prices with global oil market trends while factoring in distribution costs, the UAE continues to ensure that its residents benefit from competitive fuel pricing. Whether you drive a compact car or a large SUV, the reduced rates mean more money in your pocket and a bit of relief at the pump.
