Ministry of Energy in UAE has announced fuel prices inclusive of Value Added Tax(VAT) for the month of May and unlike the month of April, rates have changed this month.
Petrol and diesel prices have increased
Rates for all the three types of fuel have increased. Special 95 rates have increased from 2.22 dhs to 2.37 dhs per litre, Super 98 rates have increased from 2.33 dhs to 2.49 dhs per litre and diesel rates have increased from 2.40 dhs to 2.56 dhs per litre.
Based on the cost of crude oil per barrel, this month’s rate has increased from $71.63 to $74.87 according to news outlet ‘Country Economy’. The increase in crude oil prices worldwide has led to increase in fuel prices in the country.
Oil majors began to reap the benefits of the higher oil prices and lower costs as early as last year when they started reporting growing profits and improved cash flows.https://t.co/XxHsoAC7BU
Cases have occurred of drivers leaving the gas station without paying for fuel in the past. Gas stations across the country have issued notices warning drivers to pay or will not be allowed to exit the station. They will not accept identification cards as a guarantee.