According to reports Fuel prices are going up in this month, the Ministry of Energy announced on Sunday.
The petrol will be costlier by six fils and diesel by two fils.
The new per litre fuel prices for May are: Super 98-Dh2.01, up from Dh1.95 in April; Special 95-Dh1.90, up from Dh1.84; E Plus 91-Dh1.83, up from Dh1.77. And the diesel price has been increased to Dh1.97 per litre from Dh1.95 in April. The new prices will come into effect from Monday.
The fuel prices were reduced in April, while they remained on the higher side during the first quarter of this year, contributing to consumer price inflation.
The Fuel prices have increased as global oil prices recover due to an agreement reached between the Organization of the Petroleum Exporting Countries (Opec) and non-Opec members to decrease their output by 1.8 million barrels every day from January 1. Oil producing are planning to extend the six-month deal beyond June as global oil inventories continue to be high.
The global benchmark Brent crude is currently trading at $52.05 per barrel and United States crude West Texas Intermediate at $49.33 per barrel.
AMandeep
