UAE motorists are in for another hike at the pumps on Sunday as petrol prices will increase for the second straight month.
The energy minister released May petrol prices that will see fuel costs jump around 10 per cent compared to April, almost mirroring January levels.
The cost of Super 98 has gone up 9.87 per cent, from Dh1.62 per litre to Dh1.78. Special 95 is up 10.6 per cent to Dh1.67, while E-Plus 91 has increased 11.1 per cent to Dh1.60, and diesel is also set to rise – by 2.5 per cent to Dh1.60.
The UAE changed its pricing system last August, and until last month, prices had been on a steady decline. Yet the rise seen in petrol prices can be linked to the price of oil, which rallied the last couple of months and is now around US$47 per barrel compared to last month’s close at near $40.
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