Drivers in the UAE may hear good news from fuel stations in September

Brent crude oil prices have dropped to around $88 after a long period of increase, marking a decline for the second consecutive session. This situation has increased the likelihood of stability or a decrease in gasoline and diesel prices in the UAE.

Fuel prices in the UAE are determined each month based on the average price of oil and petroleum products in global markets; therefore, the price of oil on a specific day is not the sole determinant.

In August, the prices were as follows:

• Super 98: 3.60 AED
• Special 95: 3.49 AED
• E-Plus 91: 3.41 AED
• Diesel: 3.80 AED

However, if Brent remains within the range of $85 to $90 by the end of August, prices may remain relatively stable or decrease slightly in September.

If oil reaches the range of $80 to $85, the chances of a more significant decrease in fuel prices increase. Conversely, a return of oil prices above $95 could create upward pressure again.

An increase in OPEC+ production from September could also create more pressure for a decrease in global oil prices if demand remains stable.

However, it is still impossible to predict the exact price of each liter of fuel in September, as developments related to Iran, the USA, and the security of oil transport routes in the region can still rapidly change the market.

Currently, the likelihood of stability or a slight decrease in fuel prices in the UAE in September is greater than a sharp increase, provided that the drop in oil prices continues until the end of August.
Source: Gulf News