Petrol Prices going down after a 4-month hike

ABU DHABI: If you are tired of the price hike in UAE and thinking of selling your car, we have some great news for you. After a four-month price hike, the price for the gas has gone down in the month of July. UAE fuel price committee announced this news on Thursday. The last decrease in the fuel price was last seen in February 2019 and since then no downward trend was found in fuel cost until last week.

The fuel price that was increased in June 2019 has been now declined this month. The Super 98 earlier cost AED 2.53 per/litre in June but now has been decreased to AED 2.30 in July. Moving to Super 95, the pice has been decreased from AED 2.53 per/litre to AED 2.18. Talking about diesel, the cost has declined from AED 2.56 per/litre to AED 2.35. The last decline in the price was seen in November 2018. 

The global oil price slumped on Wednesday because Trump warned to put additional tariffs on Chinese imports. The organisation of Petroleum Exporting Countries (OPEC) and its allies will be meeting to decide on production levels moving forward in the next week. We are still not sure about the future even with this decline in the fuel prices. This can be one of the reasons you should sell your car and switch to a more fuel-efficient alternative or even an electric vehicle that can reduce the emission as well.