Fuel prices have been increased in the UAE for the third consecutive month in 2017. The Ministry of Energy released the new prices on September 28, 2017 and announced a significant rise in prices of fuel for the month of October. Fuel Prices have continued to increase in 2017 where 7 out of 10 months of the year have observed an increase in the price for all types of fuel.
The new liberalization strategy for fuel prices has further increased the pressure on motorists who have found it tough to manage and reset their fuel budget every month because of continued fluctuations in the prices of all types of fuel. According to the new liberalization strategy, all types of fuel observe a steady change in price every time the fuel prices are increased or decreased.
How much have the fuel Prices been Increased?
The most significant thing about the new fuel prices is the fact that prices of both petrol and diesel have observed a massive increase of more than 10 fils by litre. This is actually the highest increase in fuel prices in last two years. The prices for both petrol and diesel have been increased by more than 5% that will make commuting considerably expensive in the month of October.
Also read: 7 Fuel-Saving Driving Tips for Motorists in the UAE
New Fuel Prices in the UAE for the Month of October
Fuel prices have been increased yet again in the UAE. It is the third consecutive month with an increase in fuel price. Even before this, fuel prices were increased for three consecutive months in 2017 from January till March. Only June and July were the two months where a consecutive decrease in fuel prices was recorded. This clearly shows a regular trend in which the prices for all types of fuel have been increased in the UAE.
Given below are the fuel prices by fuel-type for the month of October:
- The price of Special 95 has been increased from AED 1.90/Litre in September to AED 2.01/Litre in October.
- The new price for Super 98 will be AED 2.12/Litre. It has been increased from AED 2.01/Litre in September.
- The E Plus-91 will now be available at a price of AED 1.94/Litre. In September, its price was AED 1.83/Litre.
- Along with petrol, the price of diesel has also been increased. The price for diesel for the month of October will be AED 2.10/Litre, its price in September was AED 2.00/Litre.
This has seriously been a tough year for motorists as commuting has become expensive and in fact, the fuel prices for October are the highest after August 2015. The fluctuations and regular increase in fuel prices in the consecutive months leaves no other option for motorists, but to look for alternative commute options than combustion engine vehicles. For frequent travelers, they have to reconsider their fuel expenses every month in order to manage their monthly budget efficiently.
Also read: Top 5 Reasons to Buy an Electric Vehicle in the UAE
Why has the Price of Fuel been increased?
The massive rise in the fuel price is attributed to a substantial increase in global crude oil prices. According to market sources and experts’ analysis, the consistent increase in fuel prices is because of the agreement signed between the OPEC and Non-OPEC members in December last year. According to this agreement, the per barrel oil production was reduced by about 1.8 million barrels a day, which has clearly triggered a regular increase in fuel prices in the UAE.
How can Motorists cope with Increasing Fuel Prices?
Motorists must look to reduce their fuel expenses in order to remain stress-free even with fuel prices increasing in consecutive months. Bringing a positive change to one’s driving style by avoiding aggressive driving can be one of the easiest ways of reducing fuel consumption. Using public transport (whenever possible) is another option that will not only keep your monthly fuel expenses in check but will also mark your contribution towards reducing the carbon footprint, which is a huge environmental concern because of increased number of combustion engine vehicles on the roads.
Upgrading your vehicle to an environment-friendly hybrid or electric vehicle can be a long-term solution for all your worries related to managing fuel expenses in the monthly budget. Electric vehicles are an amazing choice when it comes to buying a vehicle that can reduce the fuel expenses to a bare minimum while offering a fine driving experience and excellent performance.
The last quarter of 2017 is the right time to upgrade your vehicle because this is when you can avoid 5% VAT on the purchase of new cars which will be implemented from January 1, 2018. Dealerships are offering some amazing discounts in the last quarter of 2017 to attract maximum car buyers and this makes it an ideal opportunity for those who are looking to buy a new vehicle. The pre-VAT purchase benefits and the incentives offered on buying an electric car by the UAE Government can make a car buying decision in the last quarter of 2017 immensely beneficial.
Here are some of the best electric vehicles available in the UAE car market:
- Tesla Model X
- Tesla Model S
- Volkswagen e-Golf
- BMW i3
- Hyundai Ioniq
- Ford Focus Electric
- Toyota Prius Prime
- Lexus CT
- KIA Soul EV
- Chevrolet Volt
Also read: Top 5 Fuel-Efficient Cars under AED 60,000 in the UAEl
The regular increase in the fuel prices can be difficult to cope with and this is why it becomes important to prefer electric vehicles over traditional combustion engine vehicles whenever you look to buy your next car. For motorists who are still eager to buy combustion engine vehicles, it is suggested that they should buy the fuel-efficient vehicles, which offer better fuel economy on both in city-drives as well as highway drives. This is how motorists can manage their fuel expenses effectively with the increasing fuel prices in the UAE.
If you are planning for a quick shift from your traditional vehicle to an environment and budget-friendly electric vehicle, then don’t forget that we buy any car in just 30 minutes while all the post-sale paperwork is handled by SellAnyCar.com’s team.
