The price of petrol in the UAE has come down, but diesel will cost a little more. Pawan Singh / The National
The price of petrol in the UAE has come down, but diesel will cost a little more. Pawan Singh / The National
The price of petrol in the UAE has come down, but diesel will cost a little more. Pawan Singh / The National
The price of petrol in the UAE has come down, but diesel will cost a little more. Pawan Singh / The National

UAE petrol prices to fall further in July


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Fuel prices in the Emirates will decrease for the second month in July, reflecting trends in the global oil market.

The prices for petrol have been cut, while diesel has gone up slightly, Wam reported on Sunday, quoting the UAE fuel price committee.

How much will fuel cost in July?

The breakdown of fuel prices for a litre for July is as follows:

• Super 98: Dh2.99, from Dh3.14 in June (down by 4.8 per cent)

• Special 95: Dh2.88, from Dh3.02 in June (down by 4.6 per cent)

• Diesel: Dh2.89, from Dh2.88 in June (up by 0.3 per cent)

• E-plus 91: Dh2.80, from Dh2.95 in June (down by 5.1 per cent)

The UAE liberalised fuel prices in 2015 to allow them to move in line with the market.

Oil prices recorded a third weekly gain in a row on Friday amid hopes that the US Federal Reserve will begin long-awaited interest rate cuts, which could stimulate the world's biggest economy and boost demand for crude.

Brent, the benchmark for two thirds of the world’s oil, settled 0.02 per cent higher at $86.41 a barrel. West Texas Intermediate, the gauge that tracks US crude, shed 0.24 per cent to close at $81.54.

Both benchmarks are on track to post a monthly gain of more than 6 per cent to pull back from May's losses. In the year to date, Brent has jumped 12.8 per cent, while WTI has surged nearly 15 per cent.

“Brent oil remains in a tight $84 to $86 a barrel range but looks primed to challenge $90 in the third quarter as the market mood music gravitationally turns constructive, underscored by fundamentals mired in deficit,” said Ehsan Khoman, head of commodities, ESG and emerging markets research at MUFG.

Brent is supported by “robust” summer travel demand in the US, jet fuel consumption reaching a post-pandemic high, and continuing geopolitical supply-side tensions, Mr Khoman said in a research note on Thursday.

In May, the International Energy Agency lowered its oil demand growth forecast for this year by 140,000 barrels per day to 1.1 million bpd, citing weak demand in developed countries.

However, Opec has projected a 2.2 million bpd increase in oil demand for 2024, citing robust consumption in China and India.

Profile

Company: Libra Project

Based: Masdar City, ADGM, London and Delaware

Launch year: 2017

Size: A team of 12 with six employed full-time

Sector: Renewable energy

Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.

A cheaper choice

Vanuatu: $130,000

Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.

Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.

Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.

Benefits:  No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.

The Specs

Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now

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A Cat, A Man, and Two Women
Junichiro
Tamizaki
Translated by Paul McCarthy
Daunt Books 

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Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

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While you're here
The specs

Engine: 3.0-litre 6-cyl turbo

Power: 435hp at 5,900rpm

Torque: 520Nm at 1,800-5,500rpm

Transmission: 9-speed auto

Price: from Dh498,542

On sale: now

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The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

On sale: now

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

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Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

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Why does a queen bee feast only on royal jelly?

Some facts about bees:

The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer

The life cycle of a worker bee is from 40-60 days

A queen bee lives for 3-5 years

This allows her to lay millions of eggs and allows the continuity of the bee colony

About 20,000 honey bees and one queen populate each hive

Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.

Apart from honey, five other products are royal jelly, the special food bees feed their queen 

Pollen is their protein source, a super food that is nutritious, rich in amino acids

Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments

Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive,  protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts

Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain

Honey, royal jelly, pollen have health enhancing qualities

The other three products are used for therapeutic purposes

Is beekeeping dangerous?

As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.

“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”

 

 

Updated: June 30, 2024, 9:02 AM`