Petrol prices have reduced for the second time in July after dropping in June. The UAE fuel price committee announced the petrol and diesel prices for the month of July 2024 on Sunday. The rates will be applicable from July 1 onwards.

Super 98 petrol will cost AED2.99 a litre, down from AED 3.14 a litre in June, while Special 95 petrol will cost AED2.88 a litre, down from AED3.02 per litre the previous month.

E-Plus 91 petrol will cost AED2.80 a litre, down from AED2.95 a litre, while diesel will cost AED2.89 a litre, up from AED2.88 a litre.

Since 2015, fuel prices in the UAE have been moving in line with the international markets.

Prices are determined by the fuel price committee, chaired by the undersecretary of the Ministry of Energy.

The committee includes members of the energy and finance ministries, as well as CEOs of Adnoc Distribution and Emirates National Oil Company.

The committee, when deciding the fuel pieces, does not rely on just one global market. It considers an average of global prices as well as operating costs of distribution companies.