Fuel Price Committee in the UAE has announced fuel prices for the month of May. To the delight of motorists on a tight budget, fuel prices have been kept unchanged from the last month. It will be a major relief for motorists on a tight budget as prices of all types of fuel decreased significantly in April 2020. A gradual decrease in fuel prices has been observed since February 2020 and May fuel prices are the lowest since September 2017.
Roads in the UAE have been emptier than ever before due to Coronavirus lockdown. However, authorities have announced some relaxation in the lockdown during the holy month of Ramadan. According to the announcement by authorities, public transport system and malls will reopen and family visits will be permitted during Ramadan.
Fuel prices were decreased by 10% during the month of April. The unchanged fuel prices for May 2020 will provide massive relief to motorists who have been under serious financial pressure due to the COVID-19 pandemic. COVID-19 has been declared as a global pandemic by the World Health Organization since the dangerous virus has infected hundreds and thousands of people across the globe.
Fuel Prices for May 2020 in the UAE
Fuel prices in the UAE have been stable since the start of this year. Not even a single hike has been recorded in the UAE’s fuel prices since December 2019, which is a positive development for motorists on a tight budget. The new fuel prices in the UAE are inclusive of the 5% Value Added Tax (VAT).
Given below are the fuel prices for the month of May in the UAE.
- The price of Super 98 has been fixed at AED 1.91/litre.
- The price of Special 95 has been kept unchanged from its last month’s price of AED 1.80/litre.
- The price of Diesel has been fixed at AED 2.06/litre.
May fuel ⛽ prices as per the #UAE fuel committee are out. Check them below. #InspiringEnergy
إليكم أسعار الوقود ⛽ لشهر مايو وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/6qcLROnWoB— ENOC (@enoc_official) April 29, 2020
Reason Behind Low Fuel Prices in the UAE
Fuel prices have decreased significantly during 2020. The fuel prices for April and May are the lowest since September 2017, which has made life easier for motorists on a tight budget. The fuel prices were set to move with the market after the liberalization strategy for fuel prices was implemented in August 2015. Since then, any rise or fall in the price of Brent (Global Benchmark for Crude Oil) directly affects the fuel prices in the UAE.
The price of Brent has fallen aggressively over the last few months, which has caused a massive decline in the UAE’s fuel prices. On April 29, 2020, Brent was trading at $21.57 per barrel after which it was decided to keep the fuel prices unchanged for the month of May.
Guidelines for Motorists During Coronavirus Lockdown
Traffic authorities in the UAE have relaxed the travel restrictions during the holy month of Ramadan, however, motorists have been advised to follow the safety guidelines to avoid the spread of the dangerous virus. Motorists have been advised to travel only for essential purposes and elderly people with chronic disease have been advised not to travel at all.
Motorists must wear masks and gloves whenever they leave their homes. Motorists must avoid littering their masks and gloves on roads as it has been declared as a major traffic violation for which motorists will have to face serious penalties.
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