HomeWorldMiddle EastFuel Price Surge Puts Pressure on UAE Residents' Budgets

Fuel Price Surge Puts Pressure on UAE Residents’ Budgets

Published on

spot_img

In the bustling cities of the United Arab Emirates, residents are feeling the pinch of rising fuel prices as they navigate their daily commutes and travel plans.

Mohammed AbuNael, a marketing executive based in Dubai, is among the many who are grappling with the impact of the recent surge in fuel costs on their monthly budgets.

Advertisement

AbuNael, a resident of Sharjah, found himself shelling out Dh800 on fuel in February alone. Anticipating a staggering 20 percent increase in fuel expenses for March, he is bracing himself for a significant dent in his wallet, especially with plans for increased travel looming on the horizon.

“As Ramadan is approaching, I have many meetings lined up in different cities across UAE, and my physical presence is required,” explained AbuNael, who works at Jasani Group, a promotional giveaways company.

The UAE government announced the petrol prices for March, revealing notable increases across the board. Super 98 petrol, a commonly used grade, will now cost Dh3.03 per liter, up from Dh2.88 in February.

Special 95 petrol will see a similar hike, priced at Dh2.92 per liter compared to Dh2.76 the previous month. Even the more affordable E-Plus 91 petrol will rise to Dh2.85 per liter from Dh2.69.

For AbuNael, who primarily relies on Super 98 petrol, this translates to a significant uptick in expenses. With each tank refill costing him an additional Dh20 or more, the cumulative impact on his monthly budget is undeniable.

“I refill my tank around seven times a month. This implies an extra expenditure of Dh140 in March alone,” lamented AbuNael.
The situation is no less dire for other residents, like Bilal Mohammed, a regular commuter from Dubai to Ajman.

Advertisement

Previously spending Dh500 monthly on fuel, Mohammed now faces an extra burden of nearly Dh60 due to the increased rates.

“My monthly refuelling expense will escalate to over Dh500. I refuel for Dh125 each time, and now I may have to pay a little extra. My travel may increase this month, which will result in additional expenditure,” shared Mohammed, who works at a hospital in Ajman.

Faced with these escalating costs, some residents are resorting to strategic measures to mitigate the impact on their budgets. Abdul Majeed, a businessman from Deira, seized the opportunity to save over Dh100 by refuelling three cars ahead of the price hike.

“We have three cars at home – a Land Cruiser, another SUV, and a Chevrolet sedan. In total, we saved about Dh70 refuelling last night,” revealed Majeed.

Similarly, Ulan Mendoz, a resident of Deira employed in Jumeirah Lake Towers (JLT), is adjusting his budget to accommodate the rising fuel prices. Spending nearly Dh400 monthly on fuel, Mendoz recognizes the need for extra financial planning in the coming months.

“I saved Dh21 by refuelling before 12 a.m. I was paying Dh160 in February, and for this month, I will have to pay a little over Dh180,” explained Mendoz, highlighting the incremental impact on his expenses.

As residents across the UAE grapple with the realities of increased fuel prices, the looming specter of Ramadan further compounds their concerns.

With travel demands expected to rise during this period, many are left scrambling to adapt their budgets to accommodate these unforeseen expenses.

In response to these challenges, individuals and households are urged to exercise prudence in managing their finances and exploring alternative transportation options where feasible.

While the surge in fuel prices presents a formidable obstacle, proactive planning and resourcefulness may offer a semblance of relief amidst these economic uncertainties.

 

This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members

Latest articles

Roosevelt Skerrit met President Vucic on official visit to Serbia

PM Roosevelt Skerrit of Dominica met with President Aleksandar Vucic of Serbia on Thursday during an official visit to Belgrade.

PM Skerrit represents Dominica in Our Ocean Conference

PM Roosevelt Skerrit represented Dominica in ninth Our Ocean Conference organised in Athens from 16 April to 17 April.

Neom Project Plans Sukuk Issuance to Fund Expansion Amid Growing Financial Concerns

With the goal of raising up to $1.3 billion through the sale of Islamic bonds, or sukuk, Neom is poised to navigate the intricate landscape of global finance to fuel its ambitious expansion plans

Major Flooding in UAE: Dubai Airport Turned Into a Lake, flights Cancelled

The bustling metropolis of Dubai, renowned as the Middle East's financial powerhouse, found itself submerged under the deluge, with its iconic airport forced to shut its doors amid the havoc

More like this

Roosevelt Skerrit met President Vucic on official visit to Serbia

PM Roosevelt Skerrit of Dominica met with President Aleksandar Vucic of Serbia on Thursday during an official visit to Belgrade.

PM Skerrit represents Dominica in Our Ocean Conference

PM Roosevelt Skerrit represented Dominica in ninth Our Ocean Conference organised in Athens from 16 April to 17 April.

Neom Project Plans Sukuk Issuance to Fund Expansion Amid Growing Financial Concerns

With the goal of raising up to $1.3 billion through the sale of Islamic bonds, or sukuk, Neom is poised to navigate the intricate landscape of global finance to fuel its ambitious expansion plans