UAE residents rushed to petrol stations on Tuesday as retail fuel prices in the Emirates increased for the month of February. The rates of petrol was hiked by up to 27 fils per litre following two consecutive months of reduction in price.

One of those who rushed to fill her car tank was Shabna Ibrahim. The property consultant, who has to refuel her sedan every 4-5 days, said she was budgeting for the extra fuel spend into her monthly spend. “I drive a lot to meet clients and for property viewings,” she said. “So, the hike is going to translate into quite an increase in spending on fuel for me. I filled in petrol today so that I can save that little bit extra.”

The Dubai resident said she has been practising carrying food and snacks with her in her car while out and about to cut down on expenses. “Since I drive so much every day, it is easy to fall into the trap of eating out very often,” she said. “I started the habit to stay healthy, but I noticed that it helped me save money. Now, no matter how much of a hurry I am in, I always grab a snack from home before I leave. It is hard to believe how much money you can save just with this simple trick.”

Petrol prices for January 2023 had marked a significant drop of at least 50 fils across the board, with many calling it the perfect New Year gift. In February, Super 98 petrol will cost Dh3.05, Special 95 petrol will cost Dh2.93 and E-plus 91 petrol will cost Dh2.86

According to Mohammed Yaseen, who drives between Dubai and Sharjah regularly, the current increase will have a minimal effect on his budget. “Thankfully the hike is not significant,” he said. “For me, this will cost roughly an extra Dh20 for a full tank. Ever since the prices started fluctuating, I have kept my petrol budget flexible for small increases and decreases.”

The Syrian expat also said he was glad the prices were announced by afternoon on Tuesday (January 31). “It gave me enough time to fill my car tank before I went home,” he said. “I am happy that I could top it up."

The UAE deregulated retail fuel prices in August 2015 and since then, the committee announces revised rates every month. In July 2022 retail fuel prices reached an all-time high in the UAE.

Mohammed Shabeer, an attendant at a petrol station, said that he had witnessed more cars coming in since the hike was announced. “I didn’t realise that the fuel prices were out,” he said. “I was just telling my colleagues that the day had suddenly become busier. A few minutes later, a friend Whatsapped me that the new prices had been announced. Then I understood why people were rushing in.”

 

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