No change in fuel prices

dubai – Motorists across the UAE will continue to make the most of low fuel prices, as the UAE Fuel Price Committee on Wednesday announced that fuel prices for the month of May 2020 will remain unchanged at April rates.

Prices of Super 98 petrol remain unchanged at Dh1.91 per litre; while prices for Special 95 are also the same at Dh1.80 per litre. Diesel prices stand at Dh2.06 a litre.

Travel restrictions and lockdowns have meant that roads across the UAE have been mostly deserted except for delivery vehicles and essential workers commuting to work, however an easing of these restrictions will soon see motorists returning, albeit more cautiously.

Oil prices gained on Wednesday after US stockpiles rose less than expected and gasoline stocks fell. Support also stemmed from hopes that demand will improve as some European countries and US cities moved to ease coronavirus lockdowns.

Oil prices jumped on Wednesday following a report that showed a smaller-than-expected build in U.S. inventories. West Texas Intermediate for June delivery surged 18.4 per cent, or $2.27, to trade at $14.61 per barrel, while international benchmark Brent crude traded at eight per cent higher at $22.09. Data from the American Petroleum Institute on Tuesday showed that US crude inventories jumped by 10 million barrels in the week to April 24, to 510 million barrels.

This was lower than expectations from analysts of a build of 10.6 million barrels, according to estimates by Reuters.