UAE petrol prices expected to drop in July

UAE motorists will finally see some relief at the pump in July after four consecutive months of fuel price increases, as global oil prices drop sharply from the highs triggered by the Middle East conflict. The case for lower fuel prices next month is stronger than at any point since the war began on February 28. Since then, UAE retail fuel prices have surged by more than 60 per cent as disruptions to shipping through the Strait of Hormuz sent global energy prices soaring. In June, Super 98 was priced at Dh3.95 per litre, Special 95 at Dh3.83 and E-Plus 91 at Dh3.76. Diesel was set at Dh4.33 per litre. For motorists, the increases have been substantial. Super 98 has climbed from Dh2.45 per litre in February to Dh3.95 in June, an increase of more than 61 per cent. A 60-litre tank that cost around Dh147 to fill in February now costs approximately Dh237. For owners of larger SUVs and 4x4s with 80-litre tanks, the cost of a full tank has risen from roughly Dh196 to Dh316. The sharp rise reflected a global oil market gripped by fears of prolonged supply disruptions after Iran effectively closed the Strait of Hormuz, one of the world's most important energy shipping routes. Around 20 per cent of global oil and fuel supplies pass through the waterway.