Posted on: 7th June 2018 in Dubai Finance
Motorists in the UK are facing the biggest rise in petrol prices for 18 years in what the RAC described as a “hellish” price hike. May saw prices of unleaded fuel rise by 6p per litre, to a high of 129.41p per litre for unleaded petrol. This means that the cost of filling a 55-litre family car has risen to £71.18, an increase of £3.29 in the course of just one month. RAC fuel spokesman Simon Williams said “May was a hellish month for motorists. Sadly they have been besieged by pump price rises for three months with nearly 9p per litre being added to petrol since the beginning of March … The rising oil price together with a weaker pound is a punitive combination for anyone that drives regularly.” Price hikes have been even more extreme for those unfortunate enough to have to fill up at motorway services. The price of diesel has soared on motorway forecourts to 147.80p per litre, with unleaded closely behind at 144.75p.
Expats in the UAE also faced a fuel price rise in May, as the UAE fuel price committee announced an increase of 6.8 pc at the beginning of the month, which includes the new VAT rate of 5 pc: 
The cost of filling that same 55 litre family car for British expats in Dubai has risen to Dh136.95, or £27.68 – so expat families in the UAE are still saving nearly £50 on a tank full of fuel in comparison with their British compatriots!
We have 18 offices across the globe and we manage over $2billion for our 20,000+ clients
Get started
Most investment experts will tell you, “don’t put all your eggs in one basket”. Instead, spread your investments and build a diverse portfolio of different assets. Diversification is the key...
Read more
The foreign exchange (forex) market is a fascinating world where currencies from across the globe are traded. Whether you’re planning a trip abroad, running a business, or considering an investment...
Read more
Inflation—the rise in prices over time—is one of the most important factors to consider when planning your financial future. While it may seem like a background economic buzzword, inflation has...
Read more
Planning for retirement can feel overwhelming, but it doesn’t have to be. By breaking the process into manageable steps, you can create a secure and comfortable future for yourself. This...
Read more
