Fuel prices in the UAE have been changing erratically over the last couple of months, which is why many UAE residents have no clue if and how much it has really increased. To to provide a definitive answer, ServiceMarket studied the recent bumps and dips in the price of fuel and uncovered the reasons behind these changes. Here’s your comprehensive guide to fuel prices in the UAE.
Changes over the last six months
After going down by 0.1 AED, the price of all four common types of fuel in the UAE (91 E Plus, 95 Special, 98 Super, Diesel) had been increasing by a fraction each month since the start of this year. However, fuel prices took an unexpected turn in March, when the Ministry of Energy UAE, announced new prices for April. For the first time this year, fuel prices have decreased in the UAE!
Why were fuel prices going up and then went down in March?
Early this year, OPEC (Organisation of the Petroleum Exporting Countries) and non-OPEC countries reached an agreement to cut down oil production by 1.8 million barrels per day. This six-month-long plan, which can be extended for another six months in May, was adopted to stabilize oil prices. This resulted in the gradual increase in car fuel prices we’ve been seeing. However, last month, there was an increase in oil production in the US and this surge in supply pushed fuel prices down.
What can we expect over the next few months?
It’s hard to say. When asked to comment on whether we should expect higher oil prices, the Minister of Energy, UAE said that they are focusing on balancing oil markets and attracting investments, instead of being concerned about fuel prices. Some fluctuations in fuel prices can be expected. The OPEC meeting in May to decide whether or not to continue cutting oil production will play a big role in determining fuel prices in second half of 2017.
Tips to save fuel
While car fuel prices are not in your control, you can certainly save fuel and money by following these handy tips:
Drive steadily: It’s best to cruise at a steady speed. Accelerating and decelerating frequently burns more fuel. You can save up to 20% on fuel by simply slowing down the from 120 km/h to 90 km/h on a highway.
Avoid braking too hard: You should also try to cut down the number of times you hit the brakes hard. Instead, slow down when you notice that the car in front of you is stopping and be sure to keep a safe distance.
AC or fresh air? You should turn off your AC and enjoy some fresh air if the weather permits it. Doing so will help you save fuel. But you should do the opposite on a highway because rolled down windows increase air resistance and make your car sip more fuel.
Avoid traffic: By using tools like Google maps, you can check your route for traffic congestion spots. If you make this a habit, you can save thousands of dirhams in the long run.
Be sure to check out some of the fuel-efficient cars in Dubai on CarSwitch.com to save big bucks. Well-maintained cars provide better milage, which is why CarSwitch only features certified used cars in Dubai. You can also buy the right car insurance in Dubai without breaking your bank by comparing insurance quotes on ServiceMarket!
