The Fuel Price Monitoring Committee has approved a reduction in the prices of gasoline and diesel for September 2024, with a decrease of 15 fils per liter for gasoline and 17 fils per liter for diesel compared to August prices.
The committee had previously approved fuel price reductions in January, June, and July 2024.
Fuel distribution companies have announced the new prices, which will take effect starting Sunday, September 1, 2024, and include a 5% VAT.
The price of Super 98 gasoline has dropped by 15 fils from 3.05 dirhams in August to 2.90 dirhams in September, a decrease of approximately 5.2%. Similarly, Special 95 gasoline decreased by 15 fils from 2.93 dirhams in August to 2.78 dirhams in September, a 5.4% reduction.
Additionally, E-Plus 91 gasoline has fallen by 15 fils from 2.86 dirhams in August to 2.71 dirhams in September, a reduction of 5.5%, while the price of diesel has decreased by 17 fils per liter from 2.95 dirhams in August to 2.78 dirhams in September 2024, a decline of over 6%.
The committee had approved a reduction in gasoline prices in July 2024 by 14 to 15 fils, representing a decrease of 5% to 5.4% compared to June 2024 prices. In June 2024, the committee approved a reduction of 20 fils in gasoline prices and 19 fils in diesel prices per liter, with a decrease ranging from 6% to 6.35% compared to May 2024 prices.
The committee also approved a reduction in gasoline and diesel prices in January 2024 by 13 to 14 fils for gasoline and 19 fils for diesel per liter compared to December 2023 prices.
Fuel prices are determined monthly by the Ministry of Energy based on the average global oil prices, whether increasing or decreasing, after adding the operating costs for distribution companies.
Follow Emirates 24|7 on Google News.
