Taxi fares to increase in Ajman as UAE petrol, diesel prices rise in July
Oil prices fell sharply last week — around 13 percent — snapping a three-week rally.
Taxi fares in Ajman are set to increase in July as petrol prices increase for the month.
Tariff per kilometer will go up to Dh1.76 compared to Dh1.74, the operator said.
Earlier on Monday, the UAE fuel price committee announced petrol and diesel prices for the month of July 2025.
Super 98 petrol will cost Dh2.70 a litre, compared to Dh2.58 a litre in June, while Special 95 will cost Dh2.58 a litre, compared to Dh2.47 a litre the previous month.
E-Plus category petrol will be available for Dh2.51 a litre, compared to Dh2.39 a litre in June, while diesel will now cost Dh2.63 a litre, compared to Dh2.45 a litre the previous month.
Forecast for coming months
There is cautious optimism that prices may ease in the near future, thanks to a recent plunge in global oil rates and easing regional tensions.
Oil prices fell sharply last week — around 13 percent — snapping a three-week rally. The earlier gains through most of June were reflected in July’s higher fuel prices.
A major reason behind the most recent drop was a ceasefire agreement between Israel and Iran, which eased fears of supply disruptions from the Middle East, a region that supplies about a third of the world’s oil.
Weekly loss
Oil held its biggest weekly loss in two year on Monday, as hedge funds piled into bearish bets after an Iran-Israel truce ahead of an expected OPEC+ supply hike.
West Texas Intermediate crude traded around $65 a barrel, following a 13% slump last week. Though Iran remains skeptical the US-brokered ceasefire will last, President Donald Trump suggested he might back sanctions relief for the Islamic Republic “if they can be peaceful.”
Key members of the Organization of the Petroleum Exporting Countries and its allies are ready to consider another 411,000 barrel-a-day increase for August when they meet on Sunday, according to several delegates. It would be the fourth month in a row the group agreed on such a bumper hike, triple the initially planned volumes.
“The trajectory of Iran’s oil exports and its impact on Brent oil futures will likely move to the background in coming days as markets re‑focus on the OPEC+ supply decision,” said Vivek Dhar, an analyst with Commonwealth Bank of Australia. OPEC+ likely has “an acceptance that a lower oil price will prevent further market share erosion.”
With inputs from Bloomberg
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