The paths of these two stars have intersected on several occasions due to their association with the luxury brand Bulgari
entertainment6 hours ago
Fuel prices in UAE are still cheaper than over 110 countries despite hitting an all-time high in July due to a surge in global crude prices.
Retail fuel prices in the UAE hit an all-time high in July, reaching Dh4.63 per litre. The prices have surged nearly 75 per cent since January 2022, as Super 98 have risen from Dh2.65 per litre at the beginning of the year to Dh4.63 in July.
Since the UAE implemented fuel price deregulation in August 2015, prices crossed the Dh4 mark per litre for the first time in June.
According to globalpetrolprices.com data, fuel prices in the UAE are cheaper than in 117 countries and costlier than 50 countries, including the Gulf countries.
The average 95-octane price of petrol around the world is Dh5.39 per litre. However, there is a substantial difference in these prices among countries.
“As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. One notable exception is the US which is an economically advanced country but has low gas prices. The differences in prices across countries are due to the various taxes and subsidies for petrol. All countries have access to the same petroleum prices of international markets but then decide to impose different taxes. As a result, the retail price of petrol is different,” it said.
After staying above $100 per barrel during most of the year mainly due to the Russia-Ukraine crisis, global oil prices fell below $100 per barrel last week because of worries about the global economic slowdown denting demand for crude oil. But the price reversed again and was trading at $105.8 per barrel on Monday.
ALSO READ:
Fuel prices in the UAE are cheaper than major developed countries which imposed heavy taxes on oil including Japan, the USA, Switzerland, Canada, the UK, Germany, Singapore and others, according to globalpetrolprices.com.
The data showed Hong Kong, Iceland, Norway, Finland and Denmark have the highest fuel rates in the world, but fuel is affordable to large because of the high per capita income in those countries.
The data showed Hong Kong, Iceland, Norway, Finland and Denmark have the highest fuel rates in the world, but fuel is affordable to large because of the high per capita income in those countries. Petrol costs over Dh9 per litre in the above-mentioned countries.
While Venezuela, Libya, Iran, Syria and Algeria offer the cheapest fuel, the availability and buying power of the people in those countries are major issues in those countries due to high inflation.
The paths of these two stars have intersected on several occasions due to their association with the luxury brand Bulgari
entertainment6 hours ago
The students' demands range from a ceasefire in Israel's war with Hamas to calls for universities to stop investing in Israeli enterprises
world6 hours ago
Despite Kohli's flowing form ahead of the T20 World Cup in June, pundits have raised concerns over his strike-rate
cricket6 hours ago
Saudi Arabia has begun to explore extracting lithium from sea water
business7 hours ago
Speaking after meeting Lebanese leaders, French foreign minister says there had been "a lot of progress" over the French proposals
mena7 hours ago
The three-shot winner from Japan says he is aiming to become a member of the PGA Tour in the future
sports7 hours ago
Big-hitting Nienaber falters at the finish to settle for secondwhile former Abu Dhabi resident David Horsey takes the third spot at Saadiyat Beach Golf Club
sports7 hours ago
The UAE is India's second-largest export destination after the US
economy8 hours ago