September fuel prices;Dealing with instability – Dubi Cars
The announcement of a drop in the cost of fuel in September means Dubai drivers can breathe a sigh of relief-but for how long?
Fuel prices have risen dramatically since the beginning of the year-making a significant dent in wallets-especially if you drive a gas-guzzling vehicle. In June-petrol prices passed AED4 per litre for the first time since the price of fuel was deregulated seven years ago-and the stifling 80% rise in fuel since January 2022 has encouraged some motorists to downsize.
Drivers wait in trepidation for the fuel price announcement-which is adjusted at the beginning of every month-and is based on fluctuation of the global crude oil price. The dramatic rise in fuel prices across the globe this year is in large part due to a greater demand on oil felt since the beginning of the Ukraine-Russia war.
Not only felt by drivers-taxi fares are also fluctuating. Uber announced a hike in prices and bus fares in Sharjah are shifting monthly based on fuel costs. Although Dubai drivers celebrated a decrease in fuel prices this month, Petrol prices are unlikely to come down significantly until other oil producers are able to increase supplies across the board-according to an Arabian Business report.
Until drivers are met with a more stable cost of fuel-they’ve got options.
- Stay the course-and wait to see if the market improves
- Downsize your vehicle or change to an EV (Dubi Cars has over 350 in stock!)
- Plan a trip to Oman -Fuel prices in the UAE are not regulated-which means that in comparison with our Gulf neighbours petrol costs twice if not triple the price. Fill up in Oman and save your dirhams.
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