Petrol price updates

[hAwX]

Does anyone care? i dont think so... a very few people!

Either way i will try to comment every month on the update 😂 A few years left for gasoline engines until battery takes over the world, so why not keep an eye on it right

September prices

Super- 2.01 from 1.89    

Special 1.90 from 1.78

E-plus 1.83 from 1.71

Diesel 2 from 1.88

[Sidshk]

Soon VAT will be applicable to Fuel price as well 

[Sidshk]

Petrol prices will be subject to value-added tax (VAT) in the UAE from next year, according to experts.

Set to be implemented from January 1, 2018, the five per cent tax will be applicable to both petrol and diesel, said Thomas Vanhee, founding partner, Aurifer Middle East Tax.

He pointed out that some countries have different VAT rates for commercial and private vehicles, but the UAE has no such intention. So single rate will be applicable.

The President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, on Sunday issued Federal Decree Law No 8 for value-added tax with one of the lowest rates in the world.

"The ministry of finance had said at workshops, inflation will go up by?1.4 per cent. The ministry websitesays inflation will go up slightly," Vanhee told Khaleej Times.

Since petrol and diesel is a business activity, they would be subject to VAT, said Girish Chand, director MCA Management Consultants. "However, considering the low VAT rate and the insignificant composition in the overall spending of an individual, VAT on petrol and diesel would have a negligible impact," Chand pointed out.

The International Monetary Fund said in a recent note inflation in the UAE is projected to reach 2.9 per cent next year from 2.2 per cent this year on the one-off impact from the VAT introduction but would stabilise at around 2.3 per cent over the medium term.

Chand explained that VAT rates are related to business activity, not end users, so there would not be different VAT rates for commercial and individual vehicles.

The UAE has aligned oil prices with international rates and they are adjusted every month by the Ministry of Energy.

For the month of August, the prices were revised upward by three fils with unleaded gasoline 98 at Dh1.89, unleaded gasoline 95 at Dh1.78 and unleaded gasoline 91 at Dh1.71; while diesel was increased by four fils to Dh1.88.

Based on this estimate, filling a 50-litre tank with unleaded gasoline 98 will today cost Dh94.5. Following the five per cent VAT implementation next year, the price will rise to Dh99.2. Similarly, the 2017 Land Cruiser 5.7 (EXR) with a 136-litre fuel tank capacity costs approximately Dh257 to fill unleaded 98 but following VAT, the consumer will have to shell out approximately Dh270.

[hAwX]

thats interesting! this can also be a cause to buy an electric or hybrid in the future... 25% of the people cares about their fuel economy and i ve seen some people complaining at dealerships that they are not getting what they were promised. 

[Gaurav]

So finally VAT will pave the way for Hybrid and Electric cars bright future in UAE......!

Nice and sad at same time.

Click Sad on this comment if you are said and click like if you really happy with Hybrid / Electric future

[desertdude]

Electric cars are being shoved down our throats whether we like it not. I truly believe they are not the way of the future. Its only being made to look that way becuase this really doesnt require thinking out of the box and of something new. Just improving a know technology. There is a little conspiracy theorist in me which believes the answer to clean, cheap and efficient energy is already out there. But its being forcefully being kept under wraps. Maybe to see electric cars fail on purpose? Look at the mega trillion dollar worldwide petrochemical industry. You think they will quietly die down into night without putting up a fight? I dont think so.

Look at the world today and compare its tech advances to the world of a 100yrs ago. Even the wildest science fiction writers imagination xould not have thought of it a 100 years ago. And yet more than a 100yrs later we are basically stuck with the same design of a internal combustion engine. How is this even possible. Every field has progessed by leaps and bound but yet even the most decked out expensive car with every gizmo imaginable still has something from over a century ago as its heart.

[Barry]

My personal opinion, you are all nuts. In my country, I was paying 65% tax on fuel, plus 20% vat on top of that. If you had a turbo car, that's 8 dirhams for a liter of super!

Not to mention a packet of 20 cigarettes could cost you 50 dhs.

You people don't know how blessed you are!

But back to topic,

everyone is pushing for electric cars now. How will that affect classic car owners? Will they get a bypass to keep classics alive?

[Gaurav]

Barry, everything has a price to pay for tax benefits, rights and stay in the country without a job called citizenship. Anyways leave the economics and politics aside let's talk about our favorite subject: Cars.

The way I see the future is nobody gonna put a ban on ICV but it will come with heavy prices to discourage it's usage. On other hand electric / hybrid will be on discounts / cheaper viable option to encourage people to switch to cleaner means of transport.

In my last visit to London - 2 months back I was surprised to see that every second car get switched off instantly on red light / stop and go traffic as soon as car comes to complete halt. These all cars comes with some device that switches off car engine instantly when stopped and restart the car in fraction of a second when you lift off the foot from brake pedal. Now that is something genius way to save fuel, controlling emission, etc. 

[hAwX]

4 hours ago, Gaurav said:

The way I see the future is nobody gonna put a ban on ICV but it will come with heavy prices to discourage it's usage. On other hand electric / hybrid will be on discounts / cheaper viable option to encourage people to switch to cleaner means of transport.

 

 this is what came to my mind when i read that

also:-

http://gulfnews.com/news/uae/environment/incentive-platform-launched-to-encourage-electric-vehicles-in-uae-1.2024927

https://qz.com/911900/dubai-wants-to-make-25-of-car-trips-driverless-by-2030-and-its-starting-with-tesla-taxis/

also read somewhere petrol/diesel cars will be eliminated by 2030

[Stef.an]

On 8/30/2017 at 9:20 AM, Sidshk said:

Soon VAT will be applicable to Fuel price as well 

The struggle is real!!!