Bad news for UAE as petrol prices rise by 27 fils per litre

Key takeaways: 

• Transport authority declares rise in taxi fares.

Ajman Transport, the transport administration for the emirate of Ajman, has declared a change in taxi fares as petrol prices increase.

Taxis fares rose due to a rise in petrol prices: 

The authority announced that for the month of February 2023, passengers would be charged Dh1.83 for each kilometre. This is for five fils per kilometre from last month when it was Dh1.78 for each kilometre.

Fuel costs in the UAE have increased this month by up to 27 fils for each litre. The super 98 fee has been raised by Dh0.27 or 9.7 for each cent to Dh3.05 per litre. 

Special 95 was increased by Dh0.26 or 9.7 for each cent to Dh2.93, and the E-Plus cost has been increased by Dh0.27 or 10.4 per cent to Dh2.86 a litre.

Since UAE declared to deregulate costs in August 2015, the UAE’s Fuel Price Committee has been changing the local retail fuel prices at the end of every month. 

Local fuel rates are substantially more affordable when compared to international prices.

Besides petrol prices, grocery items are much cheaper in the country: 

Grocery things such as bread, cheese, fruits and vegetables and soft beverages are much more affordable in the UAE compared to the US and European nations.

This is thanks to the country’s push to freeze fees, low fuel rates, advanced local production of perishable goods and more powerful dirham, making imports inexpensive.

Local traders and economists say that some of the articles, such as fruits and vegetables, are lower by over 50 per cent in the UAE than in some developed nations due to low surcharges in the country.

Globally, inflation has been a challenge for countries. 

While the remaining of the world has suffered from soaring food and fuel rates, UAE has relatively seen lower levels of inflation when compared to its advanced market counterparts.