UAE announces fuel prices for July 2020

The UAE has announced petrol prices for July 2020, keeping them at the same rate for four consecutive months.

The prices have been fixed at Dhs1.91 per litre for Super 98 petrol, while one litre of Special 95 will cost Dhs1.8.

Diesel will also continue to cost Dhs2.06 a litre.

July fuel ⛽ prices as per the #UAE fuel committee are out. #InspiringEnergy
إليكم أسعار الوقود ⛽ لشهر يوليو وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/lTR7m0wUfX

— ENOC (@enoc_official) June 30, 2020

Oil rebounded from record lows of below zero in April, only to fall in two of the last three weeks, in a grim reminder of abating demand and potential fear of a second wave of the coronavirus.

Prices would have dipped further, if not for the OPEC+ alliance to stall production in an attempt to stabilise market forces for demand.

Read more: Oil extends drop with virus milestones spurring demand angst

Oil falls again with virus resurgence casting doubt on demand

Also read: Covid-19 impact on the regional energy sector: Is it set for a rebound?