UAE petrol prices to go back up in September

Motorists in the UAE will pay more at the pumps in September, the Ministry of Energy has announced.

It revealed that all grades of petrol will edge up by 2 fils, although the price of diesel will fall by four fils.

From September 1 drivers will pay Dh1.75 for a litre of Super 98, Dh1.64 for Special 95, Dh1.57 for E Plus. Diesel will cost Dh1.72 a litre – a fall of 2.27 per cent.

The rise in prices comes as the cost of oil increased during the past month on the back of speculation of a potential Opec production freeze.

Members of Opec are due to meet informally in Algeria next month on the sidelines of the International Energy Forum (IEF).

Brent for October settlement increased 25 cents to $49.92 on the London-based ICE Futures Europe exchange on Friday. Prices slipped 1.9 per cent last week.

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