Until February 2021, fuel prices had remained unchanged in the UAE for 11 consecutive months.
The UAE’s fuel price committee on Tuesday announced a price increase for July 2021.
Super 98 gasoline will now cost 2.47 Dh per liter, against 2.38 Dh in June, while the Special 95 will cost 2.35 Dh per liter, against 2.27 Dh per liter the previous month.
The cost of the E-Plus 91 has been revised to Dh 2.28 per liter, against Dh 2.19, while diesel will cost Dh 2.42 per liter, an increase from Dh 2.30 the previous month .
Until February 2021, fuel prices had remained unchanged in the UAE for 11 consecutive months despite rising crude oil prices, which were trading above $ 50 per barrel in January due to the increase. of economic activity in the world’s largest economy, the United States and parts of Europe.
Global oil demand will rebound strongly in the second half of 2021 with lower oil inventories, the Opec chief and experts said on Tuesday while warning that the coronavirus variants posed a risk to the recovery.
The Organization of the Petroleum Exporting Countries and its Russia-led allies, together known as OPEC +, meet on Thursday and sources and market watchers said they expected the group to discuss a further gradual easing of existing oil production restrictions from August.
OPEC watchers said the group could increase production by more than a million barrels per day, a more modest 0.5 million barrels per day or even leave production levels unchanged.