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UAE to announce petrol prices for April today

Here's how the trend looks over the past few months

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The UAE fuel price committee is set to announce petrol and diesel prices for the month of April 2023 either today or tomorrow.

The country has been revising retail petrol prices on the last day of the month ever since the government deregulated oil prices in August 2015 to bring them at par with the global rates.

Petrol prices in the UAE increased in the last two consecutive months. For the month of March, Super 98, Special 95 and E-Plus were priced at Dh3.09, Dh2.97 and Dh2.90 per litre, respectively.

Aligning local petrol prices with the international rates reduces the burden on the government in terms of subsidies and it also provides support for fuel retailers.

According to globalpetrolprices.com, petrol prices were cheaper by over 38 per cent as of March 27 in the Emirates. Data showed the average global price of petrol was Dh4.83 on March 27 as compared to Dh2.97 in the UAE.

Petrol prices in the UAE are much cheaper than in the US and most Asian and European countries because of low tax rates. In the UAE, only a five per cent value-added tax (VAT) applies to consumers.

Prices peaked in the UAE in June and July last year after the Russia-Ukraine war, reaching Dh4.63 per litre in the country.

Here's a recap of retail fuel prices in UAE (dirhams per litre)

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