UAE to announce petrol prices for May soon

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The UAE fuel price committee is set to announce petrol and diesel prices for the month of May 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 dropped by by 8 fils per litre last month, after two consecutive months of increases. For the month of April, Super 98, Special 95 and E-Plus were priced at Dh3.01, Dh2.90 and Dh2.82 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.

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.

Month	Super 98	Special 95	E-Plus
January (2022)	2.65	2.53	2.46
February	2.94	2.82	2.75
March	3.23	3.12	3.05
April	3.74	3.62	3.55
May	3.66	3.55	3.48
June	4.15	4.03	3.96
July	4.63	4.52	4.44
August	4.03	3.92	3.84
September	3.41	3.3	3.22
October	3.03	2.92	2.85
November	3.32	3.20	3.13
December	3.30	3.18	3.11
January (2023)	2.78	2.67	2.59
February	3.05	2.93	2.86
March	3.09	2.97	2.90
April	3.01	2.90	2.82