UAE reduces fuel prices for the month of June

Gulf Today, Staff Reporter

The UAE fuel price committee on Friday announced a slight reduction in fuel prices for the month of June 2024.

The Gasoline and Diesel Prices Monitoring Committee said Super 98 will be sold at Dhs 3.14 per litre, down from Dhs3.34 in May.

Special 95 will be sold at Dhs3.02 per litre in June. It was Dhs3.22 in May.

E-Plus 91 will be available for Dhs 2.95 per liter, from Dhs3.15 in May.

Diesel will be sold at Dhs2.88 per litre, from Dhs3.07.

On the other hand, members of the Opec+ of oil-producing nations are likely to maintain current output cuts at their biannual meeting on Sunday, analysts told reporters, opting for caution in the face of geopolitical uncertainties.

Analysts told reporters they expected the status quo to be upheld at the June 2 gathering, where 22 energy ministers will meet virtually.

Prices for the black gold have changed little since the last meeting in November, increasing only by around three to four percent.

The real gross domestic product (GDP) growth of the UAE is projected to accelerate to 3.9 percent in 2024, fuelled by Opec+'s announced significant oil production hike in the second half of 2024 and a recovery in global economic activity, according to the Spring 2024 Gulf Economic Update (GEU) issued by the World Bank.