American mobility service provider Uber Technologies has hiked its UAE fares amid a surge in petrol prices. The company informed its customers (users) about the fare hike in an e-mail on Friday. The ride-hailing application would charge as much as 11 per cent extra for some trips, it said in an e-mail.
The hike is Uber’s second this year in the UAE, where petrol is three times more expensive than in Kuwait and almost double the average cost per litre in the six-member Gulf Cooperation Council, stated a Bloomberg report. Uber last hiked its fare prices in March 2022.
Petrol prices in the UAE have increased by nearly 49 fils for July 2022, as compared to the previous month. This comes after prices increased in June after a dip in May. The Ministry of Energy adjusts fuel prices in the UAE in the last week of every month.
According to the government, the UAE liberalised fuel prices to help rationalise fuel consumption and encourage the use of public transport in the long run and incentivise the use of alternative fuels.
The cost of fuel is being impacted by an ongoing squeeze on energy prices and global inflation.