The UAE Fuel Price Committee has announced fuel prices for September 2019 in the UAE. The prices for all types of fuel have been decreased, which will bring the much-needed relief to motorists on a tight budget. Fuel prices have been fluctuating in the UAE since the implementation of the liberalization strategy for fuel prices in August 2015. After the implementation of this new strategy, fuel prices in the UAE move with the market, which is a major reason behind fluctuations observed in fuel prices.
The fuel prices have increased tremendously during last two years, which has made things even worse for motorists on a tight budget. The decrease in fuel prices for the month of September will be welcomed by motorists on a tight budget as it is only the fourth month this year when fuel prices have decreased. Fuel prices for September 2019 are inclusive of the 5% Value Added Tax, which was implemented in the UAE on all business and commercial activities from January 1, 2018.
New Fuel Prices in the UAE
Fuel prices have been decreased for the month of September in the UAE. The change in prices is only a marginal one yet it will make life easier for motorists on the tight budget as refilling the fuel tank will become less costly in September than the last month.
September’s fuel ⛽ prices as per the #UAE fuel committee are out. Check them below. #InspiringEnergy
إليكم أسعار الوقود ⛽ لشهر سبتمبر وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/gwSwsgyljb
— ENOC (@ENOC) August 29, 2019
Given below are the new fuel prices in the UAE:
- The price of Super 98 has been decreased from AED 2.37/litre to AED 2.28/litre.
- The price of Special 95 has come down from AED 2.26/litre to AED 2.16/litre.
- The price of E-Plus 91 has been reduced to AED 2.08/litre from its old price of AED 2.18/litre.
- The price of diesel has also been decreased by 4 fils and the new price of diesel is AED 2.38/litre.
Reason Behind the Decrease in Fuel Prices
The fuel prices in the UAE are linked to the global crude oil prices. Brent is the benchmark for crude oil in the international markets and any rise and fall in the price of Brent affects fuel prices in the UAE. The price of Brent has been fluctuating from one extreme to another this year, which has caused fuel prices in the UAE to fluctuate drastically.
The price of Brent declined tremendously in the global markets recently, which caused a significant decrease in the UAE’s fuel prices. It has been identified that the price of Brent has dropped by at least 20% since hitting the record highs in April this year.
The fluctuations observed in fuel prices make it difficult for motorists on a tight budget to manage their monthly fuel expense. This is the reason why motorists must consider other means of commuting than their private vehicles to keep their monthly fuel expense in check.
How Motorists Can Keep their Monthly Fuel Expense in Check?
Motorists in the UAE can keep their monthly fuel expense in check by bringing a much-needed change to their mindset. The UAE government and traffic authorities have been urging motorists to adopt sustainable commuting options including public transport and environment-friendly vehicles (Hybrids, Electric Vehicles).
Using public transport more often can help reduce the monthly fuel expense and can also play a part in reducing the traffic volume on roads. While this can be a good practice to reduce fuel expense, the long-term solution for cutting fuel expense in the UAE is by switching from conventional combustion engine vehicles to Hybrids or Electric Vehicles (EVs). Hybrids can reduce the fuel expense to a bare minimum as these vehicles use a secondary source for generating power (electric, solar or hydrogen) other than the combustion engine. Electric vehicles, on the other hand, can help motorists get rid of their worries related to increasing fuel prices in the UAE.
EVs don’t use conventional fuel at all and generate power through electric batteries. Buying an EV can be an excellent option for motorists in the UAE as they will not need to worry about the fluctuations observed in fuel prices.
The UAE government has also offered several incentives to motorists for buying electric vehicles in a bid to improve the air quality of the country. The EVs ensure zero emissions, which is why they are considered eco-friendly vehicles. With more EVs on the UAE roads, the carbon footprint of the country can reduce significantly.
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