UAE Residents Brace for Increased Fuel Prices in March

UAE residents brace for increased fuel prices in March

 UAE Residents Brace for Increased Fuel Prices in March

The United Arab Emirates (UAE) has announced a significant surge in fuel prices for the month of March, sparking concerns among residents about the impact on their budgets. With prices set to increase by up to 20%, many individuals are bracing themselves for higher expenses as they navigate their daily commutes and travel plans.

Mohammed AbuNael, a Sharjah resident employed as a marketing executive in Dubai, anticipates that the spike in fuel prices will pose challenges to his monthly budget. Having spent Dh800 on fuel in February, AbuNael foresees a nearly 20% increase in his fuel expenses for March. With plans for increased travel, particularly as Ramadan approaches and numerous meetings across different cities in the UAE on the horizon, AbuNael expects his fuel costs to exceed Dh1,000 for the month.

The announced petrol prices for March reveal a significant uptick compared to the previous month. Super 98 petrol will now cost Dh3.03 per litre, up from Dh2.88 in February, while special 95 petrol will be priced at Dh2.92 per litre, compared to Dh2.76 last month. Similarly, E-Plus 91 petrol will see an increase to Dh2.85 per litre from Dh2.69 in February.

Residents across the UAE have expressed concerns about the impact of these changes on their financial well-being, highlighting the need to carefully manage their expenses in light of the increased fuel prices. For individuals like AbuNael, who primarily rely on Super 98 petrol, the rise from Dh2.88 to Dh3.03 per litre translates to a noticeable difference in their monthly expenditures.

For instance, AbuNael estimates that the cost of filling up his car's tank, which previously amounted to Dh160, will now rise to Dh181 with the new rates. While this increase may seem incremental on a per-tank basis, when multiplied by the frequency of refills, it results in a significant additional expense. AbuNael, who refuels his tank approximately seven times a month, anticipates an extra expenditure of Dh140 in March alone.

Similarly, Bilal Mohammed, a regular commuter from Dubai to Ajman, expects his monthly fuel expenses to rise by nearly Dh60 due to the increased rates. Previously spending Dh500 each month on fuel, Mohammed now faces the prospect of shelling out more to cover his commute to work at a hospital in Ajman.

In response to the price hike, some residents have opted to refuel their vehicles ahead of the increase to mitigate the impact on their wallets. Abdul Majeed, a businessman from Deira, saved over Dh100 by refuelling three cars before the price adjustment took effect. He noted that the savings, though significant, underscore the financial strain that many residents are facing.

Meanwhile, Ulan Mendoz, a Deira resident working in JLT, highlighted the importance of budgeting for the increased fuel costs in the coming months. Mendoz, who typically spends around Dh400 on fuel monthly, made a conscious effort to refuel before the price hike to save Dh21 on his expenses.

As residents across the UAE adapt to the new reality of higher fuel prices, many are reevaluating their transportation habits and exploring ways to minimize their expenses. Whether through carpooling, utilizing public transportation, or adopting more fuel-efficient driving practices, individuals are seeking innovative solutions to navigate the financial challenges posed by the recent price surge.