E-Plus 91 petrol is priced at Dh3.22 per litre, compared to Dh3.84 last month, while diesel will be charged Dh3.87 per liter compared to Dh4.14 in August.
The UAE on Wednesday cut retail fuel prices by 62 fils per liter for the month of September, in line with the fall in global rates. This is the second month in a row that the UAE has reduced retail fuel prices. In August, the price was reduced by 60 fils per litre.
Over the past two months, oil prices have been falling due to concerns over the global economic slowdown and new restrictions imposed by China to curb the Covid-19 pandemic. Brent was trading at $96.50, down 2.83 percent at 10.35pm UAE time on Wednesday.
Retail fuel prices crossed Dh4 per liter for the first time in June 2022 following rising to Dh4.63 per liter in July 2022 when the UAE announced deregulation in 2015.
As of August 29, retail fuel prices in the UAE were cheaper than most countries around the world, including oil-producing countries such as Norway.
Meanwhile, the price of gold in the UAE reached its lowest level in the last one and a half months. This comes as the dollar strengthened and the US Federal Reserve stepped up, reflecting in global gold prices. Spot gold was down 0.3 percent at $1,703.3 an ounce by 9.15am UAE time.
According to data from Dubai Gold and Jewelery Group, the market opened on Thursday, down Dh24,000 to Dh206.25 per gram. 22K, 21K and 18K per gram were trading at Dh193.75, Dh185.0 and Dh158.5 respectively.
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