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Tuesday, May 27, 2025

UAE: Will petrol prices drop in June after inching up in May?

تم إعداد هذا المنشور من قبل فيجاي فاليتشا

UAE: Will petrol prices drop in June after...

 

 

https://www.century.ae/en/vijay-valecha/"> Vijay Valecha , May 27, 2025, Khaleej Times

Petrol prices in the UAE could see a small cut when new rates are announced for June 2025 at the end of this month.

Brent oil mostly traded in the low $60s a barrel range in May 2025, which is slightly lower than last month. On Tuesday, WTI Crude and Brent were trading slightly lower at $61.44 and $64.68 per barrel, respectively.

For the month of May, the UAE inched up prices by just one fils per litre, pricing Super 98, Special 95 and E-Plus 91 at Dh2.58, Dh2.47 and Dh2.39 per litre, respectively.

In the UAE, petrol prices have been revised at the end of every month ever since the country deregulated fuel prices in 2015. For the month of June, prices could be revised down slightly as the average closing price of Brent was $63.6 a barrel compared to previous months’ $66.6 per barrel. However, an official announcement about new rates for June will be made at the end of this month.

Oil prices are likely to come under further pressure as energy-producing group Opec+ is likely to increase output further in its meeting this week.

“Crude oil has declined sharply this year amid concerns that US President Donald Trump’s import tariffs could dent economic growth and curb demand, just as Opec+ accelerates output increases to protect market share. Oil opened the year near $74.93 and surged to $82.63 by mid-January, only to reverse course sharply, tumbling to $58.40 by April 9. A modest rebound followed, lifting prices to around $65 by late May — but that still leaves oil nearly 20 per cent below its early-year peak,” said https://www.century.ae/en/vijay-valecha/"> Vijay Valecha , chief investment officer at Century Financial.

Source


https://www.khaleejtimes.com/uae/petrol-prices-june-2025-predictions">Khajeel Times











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