UAE announces petrol, diesel prices for June: the key facts to look into…

This has been the first time since February that the prices of petrol and diesel are going to reduce. The UAE Fuel Price Committee released an update that the fuel prices would come down in June. 

Petrol Categories and their prices

Super 98 petrol is going to cost 3.14 AED per litre in June, a 6% reduction compared to 3.34 AED per litre in May while Special 95 category would cost 3.02 AED a litre, a drastic 6.02 percent lower when compared to the price of 3.22 AED a litre in May 2024. 

E Plus 91 category petrol is going to cost 2.95 AED a litre, compared to 3.15 AED a litre in May, while diesel would cost 2.88 AED a litre compared to 3.07 AED a litre in May. 

Basis of Price Determination

It’s been observed that fuel prices of the state of UAE have been moving in line with the international markets. The prices are determined by the State’s fuel price committee, headed by the undersecretary of the Gasolene and Diesel Prices Committee, Ministry of Energy, United Arab Emirates. 

The committee consists of members from the energy and finance ministries as well the Chief Executive Officers of Adnoc Distribution and Emirates National Oil Company, Sultan Ahmed Al-Jaber and Saif Humaid Al Falasi respectively.  The CEO of Adnoc Distribution also chairs the office of the UAE Special envoy for Climate Change from 2020.

The committee does not rely on one of the global markets, but considers the sum of average global prices and the operating costs of the oil distribution companies.