UAE petrol prices for May announced

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petrol, fuel prices, UAE, energy, diesel

Dubai - The prices have remained unchanged from last month.

By Staff Report

Published: Wed 29 Apr 2020, 3:28 PM

Last updated: Sun 3 May 2020, 10:03 PM

Motorists across the UAE will continue to make the most of low fuel prices, as the UAE Fuel Price Committee on Wednesday announced that fuel prices for the month of May 2020 will remain unchanged compared to April.

Price of Super 98 petrol will remain unchanged at Dh1.91 per litre, while price for Special 95 is also the same at Dh1.80 per litre. Diesel price stands at Dh2.06 a litre.

May fuel ? prices as per the #UAE fuel committee are out. Check them below. #InspiringEnergy
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- ENOC (@enoc_official) April 29, 2020

Travel restrictions have meant that roads across the UAE have been mostly deserted except for delivery vehicles and essential workers commuting to work. However, an easing of these restrictions will soon see motorists returning, albeit more cautiously.

Oil prices gained on Wednesday after US stockpiles rose less than expected and gasoline stocks fell. Support also stemmed from hopes that demand will improve as some European countries and US cities moved to ease coronavirus lockdowns.

West Texas Intermediate for June delivery surged 18.4 per cent, or $2.27, to trade at $14.61 per barrel, while international benchmark Brent crude traded at eight per cent higher at $22.09.

Data from the American Petroleum Institute on Tuesday showed that US crude inventories jumped by 10 million barrels in the week to April 24, to 510 million barrels. This was lower than expectations from analysts of a build of 10.6 million barrels, according to estimates by Reuters.

Global oil markets were rocked on April 20, when the West Texas Intermediate (WTI) slumped below zero for the first time in history and closed in negative territory. The price for WTI for May delivery ended trading at -$37.63 a barrel, leaving investors rattled and triggering the steepest drop in Asian stock markets in a month.

business@khaleejtimes.com