The UAE Raises Fuel Prices Up To 15% in September
The petrol and diesel prices in the United Arab Emirates (UAE) have been revised for September, following the pattern seen in August, where there was yet another increase. Over the past year, fuel prices have experienced fluctuations in the UAE, and at present, they are higher compared to the same period last year.
Method for Setting Fuel Prices in the UAE
Prior to 2015, the UAE government controlled fuel prices, maintaining them at fixed levels for extended durations. This meant that the prices remained unaffected by market fluctuations or production expenses.
Read more : Petrol Prices Set to Rise Again After August 15
In 2015, the UAE government eliminated the regulations on fuel prices, leading to a market-driven approach where prices could vary based on factors like global oil prices, supply and demand, and economic influences.
|Fuel Type||Price in August (AED)||Price in September (AED)||Percentage Increase (%)|
However, in 2020, at the onset of the COVID-19 pandemic, the UAE government reintroduced controls on fuel prices to assist individuals and businesses impacted by the crisis.
In March 2021, the UAE once again opted to remove the restrictions on fuel prices, allowing them to be determined by the forces of the market.