UAE: Announcing an increase in gasoline and diesel prices starting in March

Abdallah Shahin - | Business

The Fuel Prices Monitoring Committee has authorized a rise in gasoline and diesel prices for March 2024, with an increase ranging from 15 to 16 fils per liter for gasoline and 17 fils per liter for diesel compared to February 2024 pricing.

Fuel distribution firms have revealed new prices that will take effect on Friday, March 1, 2024, which will include a 5% value-added tax.

In February 2024, the price of a liter of super gasoline "98" rose by 15 fils from 2.88 dirhams to 3.03 dirhams in March 2024.

In March, the price of a liter of private gasoline "95" increased by 16 fils from 2.76 dirhams in February to 2.92 dirhams.

In March, the price of a liter of E-Plus 91 gasoline increased by 16 fils from 2.69 dirhams in February to 2.85 dirhams.

In March, the price of a liter of diesel rose by 17 fils to 3.16 dirhams from 2.99 dirhams in February.

The Ministry of Energy sets monthly gasoline price regulations based on the global oil price average, adjusted for distribution companies' operating costs, regardless of fluctuations.

Gold futures prices decreased as the dollar strengthened, while investors anticipated the release of important statistics, such as the report on personal income and spending in the United States.

The dollar value index increased to 104.24 points in European trading yesterday but later decreased to 103.96 points, marking a 13% rise from the day before.

Gold's price decreased by $1.40 to $2,042.70 per ounce for delivery in April. Silver's price decreased by $0.121 to $22.636 per ounce for delivery in May, while copper's price dropped by $0.0100 to $3.8405 per pound for delivery in May.

Analysts anticipate a decrease in the consumer price inflation rate in the United States to 2.4% last month, down from 2.6% the previous month.

The core inflation rate, excluding volatile commodities like food and energy, is projected to decrease to 2.8% from 2.9% for the same period.

The US Department of Commerce reported that the US economy expanded by 3.2% in the final quarter of last year, slightly below the initial estimate of 3.3%. Analysts anticipated that the final growth rate would remain unchanged from the earlier preliminary reading.

About Author

Abdallah Shahin
Abdallah Shahin
675 Total posts

Read Also

Future Jobs in Emirates: The labor market is a criterion for choosing a field of study

Academic advisors have verified that the labor market has experienced significant transformations in recent years, profoundly impacting university majors. These changes have redirected students' focus towards emerging majors that were previously...

Dubai Police announces 150 vacancies

By announcing the availability of 150 job opportunities for national and reserve service recruits, the Dubai Police General Command is providing these individuals with the opportunity to become part of an innovative and advanced police work...

UAE jobs: Emirates hotels provide 4,000 new jobs

The best hotels in the Emirates provide employment opportunities for thousands of job seekers. job seekers in the uae hotels

Dubai: A company made 16 of its workers millionaires in their honor

In Dubai, a company has made sixteen of its employees millionaires in their honor.

Dubai Court: Worker compensation of 500 thousand UAE dirhams

The Dubai Civil Court has issued a ruling that mandates a restaurant and two of its supervisors to provide a sum of 500,000 dirhams to a worker who sustained a wrist-level amputation as a result of their right hand slipping into a meat-mincing...

What happens after applying for a work permit in Canada?

Prior to coming to Canada, it is necessary to submit an application for a work permit. Foreign workers who wish to apply for a visa while located outside of Canada will be required to submit their application to a visa office situated outside of...

UAE: the details of the 10-year golden commercial license for expatriates

The United Arab Emirates has announced a golden commercial license for expatriates that is valid for ten years.

UAE: Important statement to citizens and residents when purchasing from sales outlets

Abdullah Sultan Al Fan Al Shamsi, the Assistant Undersecretary of the Ministry of Economy for the Commercial Control and Governance Sector, emphasized the importance of consumers retaining purchase invoices. This is crucial as these invoices serve as...

Dubai: A fine of 100,000 dirhams will be imposed on the establishment owner who violates the labor law

The Dubai Court of First Instance issued a second ruling against the establishment owner for violating the Emiratisation policy in the "Nafes" program. The owner was fined 100,000 dirhams for engaging in fraudulent Emiratisation practices....

The UAE announces the details of reducing working hours in Ramadan for the public and private sectors

Workers in the private sector will have a two-hour break each day during the holy month of Ramadan, according to an announcement by the country's Ministry of Human Resources and Emiratisation.

UAE: Banks warn against closing credit cards in this case

Banks in the country will close credit cards with balances exceeding the allowed credit limit starting May 1st, as per new terms and conditions sent to customers, a copy of which was obtained by Emirates Today.

Bitcoin price reaches $60,000 and is approaching its highest level

The price of Bitcoin is close to reaching its highest price, as it is currently at $60,000

UAE: Announcing job opportunities with salaries from 5,000 to 20,000 dirhams

The portal "Kaddar", linked to the Human Resources Department in Ajman, provided job opportunities for citizens in various government and private sectors in the emirate. The Majid Al-Futtaim Group announced 15 job openings with wages...

Canada announces lucrative job opportunities that do not require a certificate

Canada announced that there are many good jobs that can be accessed without a university degree, and these are some of them:

Urgent UAE: Categories excluded from the provisions of the “New Pensions Law”

The General Pensions and Social Security Authority stated that Decree Law No. (57) of 2023 applies to citizens entering the workforce for the first time starting from October 31, 2023, with any employer in the federal government or local...

Urgent UAE: The employer will be fined from 50 thousand dirhams to 200 thousand dirhams in this case

The Ministry of Human Resources and Emiratisation has cautioned private sector businesses and employers not to hire persons without valid work permits from the Ministry, even for trial employment, whether in businesses or as support staff.

Abu Dhabi: Ruling that a female employee is entitled to compensation amounting to 120 thousand dirhams

The Abu Dhabi Family, Civil and Administrative Claims Court mandated a corporation to pay an employee 120,000 dirhams for breaching an employment contract where she was supposed to work for a salary of 37,000 dirhams. After the company requested...

Dubai announces good news after reaching its highest level in 10 years

Dubai recently shared positive news regarding the Dubai Financial Market Index, which reached its highest point in over a decade at the close of trading two days ago. This increase was driven by strategic purchases of prominent stocks with robust...

Dubai: fining the owner of the facility of 100 thousand dirhams

After finding the facility owner guilty of misusing a declaration of work for an unauthorized purpose, a first-degree court in Dubai fined him 100,000 dirhams.

Gulf Air launches new Bahrain flights to Switzerland, Greece, Spain, UK, Italy

For the summer of 2024, Gulf Air will provide more flight routes from Bahrain to Switzerland, Greece, and Spain, giving tourists more alternatives for where to go on vacation.

Bitcoin price reaches $60,000 and is approaching its highest level