Petrol prices decline in UAE while gold peaks

Published August 31st, 2024 - 09:11 GMT
Petrol prices decline in UAE while gold peaks
Petrol prices decline in UAE while gold peaks (Shutterstock)

ALBAWABA - UAE Fuel Price Committee announced petrol prices for September 2024 with a slight decrease on total prices. The new prices will apply tomorrow, 1st of September 2024.

Petrol Prices for September 2024 in UAE

Super 98 petrol will cost Dh2.90 per liter, compared to Dh3.05 in August. While Special 95 Petrol will cost Dh2.78 per liter, compared to Dh2.93 last month. E-Plus 91 Petrol will be charged for Dh2.71, compared to Dh2.86 a liter in August.

Furthermore, diesel is experiencing a decline as the liter will be charged for Dh2.78 compared to Dh2.95 in August.

Petrol prices are constantly going through hikes and fluctuations due to the decisions of the Organization of Petroleum Exporting Countries (OPEC), global supply and demand, natural incidents, taxes, interest rates, and conflicts in the region.

22 carat of gold is priced at Dh280.75 compared to Dh271.50 per gram in August, while 21 carat is priced at Dh271.75 per gram, while it was priced at Dh262.75 last month. (Shutterstock)

It is worth mentioning that overall prices for petrol and diesel prices are going through a slight drop this month in the UAE and the new prices will apply from tomorrow, the first of September 2024.

Gold prices in the UAE

Gold prices are peaking in the country, hitting high records. Ounce of gold recorded Dh9,214.00 today compared to Dh8,890.45 at the beginning to August, while 24 Carat is priced at Dh303.25 compared to Dh293.00 per gram last month.

22 carat of gold is priced at Dh280.75 compared to Dh271.50 per gram in August, while 21 carat is priced at Dh271.75 per gram, while it was priced at Dh262.75 last month. Finally, 18 gold carat is priced at Dh233.00 per gram, compared to Dh225.25 per gram in August 2024.

It is worth mentioning that there is a 5% value added tax (VAT) applied to gold in UAE. Gold prices constantly change based on the price of petrol and US dollar globally.

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