Fuel Price Committee in the UAE has announced fuel prices for the month of July. To the delight of motorists on a tight budget, the fuel prices have been kept unchanged for the third month in succession. This is a positive development for motorists as it will help them manage their fuel expense effectively during the month of July.
The demand for fuel has decreased considerably across the globe due to the travel restrictions and grounding of aircraft caused by the COVID-19 pandemic. As a result, fuel prices have dropped drastically all over the world including the UAE.
Fuel prices in the UAE were liberalized in August 2015 after which the prices for all types of fuel move in line with the market. The rise and fall in the price of Brent (Global Benchmark for Crude Oil) directly affect the fuel prices in the UAE.
July Fuel Prices in the UAE
Fuel prices for the month of July were announced by the Fuel Price Committee on Tuesday, June 30, 2020. According to the announcement, the fuel prices in the UAE will remain unchanged for the month of July.
Given below are the fuel prices for the month of July:
- The price of Super 98 has been fixed at AED 1.91/litre.
- The price of Special 95 has been fixed at AED 1.80/litre.
- The price of E-Plus 91 has been fixed at AED 1.72/litre.
- The price of Diesel has been fixed at AED 2.06/litre.
July fuel ⛽ prices as per the #UAE fuel committee are out. #InspiringEnergy
إليكم أسعار الوقود ⛽ لشهر يوليو وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/lTR7m0wUfX— ENOC (@enoc_official) June 30, 2020
Fuel prices were decreased significantly in April after which the prices for all types of fuel have not been changed. This has been a major relief for motorists on a tight budget who have been under serious financial pressure to manage their fuel expense since the liberalization of fuel prices in August 2015. As the fuel prices now move in line with the market, the fluctuations in the price of Brent directly impact the fuel prices in the UAE. Fuel prices have been fluctuating in the UAE for almost five years, except for the first half of 2020.
Current State of Traffic and Transport Sector in the UAE
The travel restrictions in the UAE have slowly been eased after a strict period where people were allowed to travel only for essential services. While the transport of goods between Dubai and Abu Dhabi is back to normal, the movement of motorists will be closely monitored to contain the spread of coronavirus. Authorities in Dubai have announced that motorists moving from Abu Dhabi to Dubai will need to have a permit. On the other hand, motorists entering Abu Dhabi from any other city will need to show the proof that they are free of COVID-19.
The novel coronavirus has spread quickly across the world and has been declared as a global pandemic by the World Health Organization. Motorists traveling within the city and between the cities need to be careful and cooperate with the authorities so that the spread of the dangerous virus can be controlled.
How to Manage Your Fuel Expense in the UAE?
People in the UAE can now travel more freely as the travel restrictions have slowly been eased in the country. It means that most motorists will now be able to benefit from the low fuel prices that have not changed since April 2020. However, this should not be considered a long-term relief as fuel prices are expected to fluctuate as soon as the lockdowns across the globe are completely lifted. Motorists in the UAE should think about ways that can help them get rid of their financial worries related to fluctuating fuel prices.
The most practical alternative in this regard can be a switch from the combustion engine vehicles to Electric Vehicles (EVs). These vehicles are environment-friendly and can eliminate the need for conventional fuel. EVs generate power from electric batteries and ensure zero emissions. Authorities in the UAE have also emphasized on the importance of sustainable commuting options and promoting the use of EVs is part of the plans to improve the air quality of the country.
Several incentives and benefits have been offered to the car buyers and owners of electric vehicles in the UAE to promote the sales of EVs. Buying an electric vehicle can be an ideal option for motorists on a tight budget to get rid of their financial worries caused by fluctuating fuel prices in the UAE.
If you are planning to sell your combustion engine car to buy a fuel-efficient hybrid or EV, then don’t forget that with us, you can sell any used car in just 30 minutes while all the post-sale paperwork is handled by SellAnyCar.com’s team.
