April is going to see a lot of happy drivers on the roads in the UAE, as fuel prices are set to drop for the first time in 2017.
The UAE Ministry of Energy has announced that petrol prices for the month of April have been reduced, with consumers to pay Dh1.95 a litre for Super 98, Dh1.84 for Special 95, and Dh1.77 for E Plus, starting April 1, 2017.
Unleaded Gasoline 98 is down 3.9 per cent from Dh2.03 per litre in the previous month; while Unleaded Gasoline 95 is down 4.2 per cent from Dh1.92 per litre in March.
The price for Unleaded Gasoline 91 has been brought down 4.3 per cent from Dh2.02 per litre in March. In addition, diesel will now cost Dh1.95, down 3.4 per cent from Dh2.02 the previous month.
In February this year, motorists paid Dh2 for Super 98, Dh1.89 for Special 95, and Dh1.82 for E Plus; while diesel cost Dh2 a litre. In January, Super 98 was at Dh1.91 per litre, Special 95 at Dh1.80, and E Plus was at Dh1.73. Diesel prices were at Dh1.94.
The fuel price increases contributed to consumer price inflation in the first part of this year, driven largely by increases in crude oil prices. Brent crude was trading at $50.91 on Tuesday. The price began the year at $56.82 but had been down at $46.38 before the multilateral deal late last year to cut output.