Fuel prices in the Emirates will rise in August after two months of declines, reflecting trends in the global oil market.
The prices for both petrol and diesel have been raised for next month, state news agency Wam reported on Wednesday, quoting the UAE fuel price committee.
How much will fuel cost in August?
The breakdown of fuel prices for a litre for August is as follows:
• Super 98: Dh3.05 from Dh2.99 in July (up by 2 per cent)
• Special 95: Dh2.93 from Dh2.88 in July (up by 1.7 per cent)
• Diesel: Dh2.95 from Dh2.89 in July (up by 2.1 per cent)
• E-plus 91: Dh2.86 from Dh2.80 in July (up by 2.1 per cent)
The UAE liberalised fuel prices in 2015 to allow them to move in line with the market.
Crude prices surged on Wednesday on concerns that the killing of Hamas leader Ismail Haniyeh in Tehran could cause a wider regional conflict.
Prices increased from a seven-week low, the first in four trading sessions. The Hamas political chief and one of his bodyguards were killed in their residence in Tehran, Iran's Islamic Revolutionary Guard Corps said.
Brent, the benchmark for two thirds of the world’s oil, was up 1.88 per cent at $80.11 per barrel at 10.50am UAE time. West Texas Intermediate, the gauge that tracks US crude, climbed 2.1 per cent to $76.30 a barrel.
But prices are on track in July to record the biggest monthly loss since 2023, amid concerns about China's demand outlook and expectations that the Opec+ alliance will stick to its current output policy.
The producer alliance, which is expected to hold an online meeting on Thursday, will start unwinding production curbs of 2.2 million barrels per day in October.
In June, Opec+ agreed to extend output cuts of 3.66 million bpd until the end of 2025. They were initially planned to end this year.
At the same time, the additional 2.2 million bpd voluntary production cuts of eight Opec+ member states were extended by three months until the end of September.
The group also released a plan for gradually unwinding the voluntary curbs on a monthly basis from October 2024 until September 2025, but said “the monthly increases can be paused or reversed subject to market conditions”.
MORE ON THE US DEMOCRATIC PRIMARIES
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
Scoreline
Liverpool 3
Mane (7'), Salah (69'), Firmino (90')
Bournemouth 0
UAE currency: the story behind the money in your pockets
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
UAE currency: the story behind the money in your pockets
Film: In Syria
Dir: Philippe Van Leeuw
Starring: Hiam Abbass, Diamand Bo Abboud, Mohsen Abbas and Juliette Navis
Verdict: Four stars
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
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Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
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