UAE fuel prices announced for August

DUBAI: The UAE fuel price committee on Thursday announced a slight increase in fuel prices for the month of August 2021.

Starting August 1, Super 98 petrol will cost Dhs2.58 a litre, compared to Dhs2.47 the previous month.

Special 95 petrol will cost Dhs2.47 per litre, compared to Dhs2.35 in June. E-plus 91 petrol will cost Dhs2.39 a litre, up from Dhs2.28 a litre last month, while diesel will be charged at Dhs2.45 a litre, an increase from Dhs2.42 in June.

Opec and its allies recently agreed to gradually add more oil supplies to the market.

Global oil prices rose on Thursday as crude stockpiles in the United States, the world’s top oil consumer, fell to their lowest since January 2020, with Brent crude oil prices pushing back above $75 a barrel.

Brent crude oil futures were up 45 cents, or 0.6%, at $75.19 a barrel by 1342 GMT, having traded as high as $75.55. U.S. West Texas Intermediate (WTI) crude oil futures were up 56 cents, or 0.8%, to $72.95 a barrel.

Brent topped $75 a barrel for the first time in more than two years in June, but fell back sharply this month on fears about the rapid spread of the Delta variant of coronavirus and a compromise deal by leading oil producers to increase supply.

“The (oil inventory) falls suggest the rise in cases of COVID-19’S Delta variant is having little impact on mobility,” ANZ analysts said in a note on Thursday.

Crude inventories fell by 4.1 million barrels in the week to July 23, the US Energy Information Administration (EIA) said, helped by lower imports and a decline in weekly production.