News
Oil pinch hurt growing in the UAE as Uber, Sharjah Taxi take cues
Kumar Shyam
The pinch on the pockets of the UAE residents is starting to hurt badly by the day with rising oil prices and its knockon effects.
As soon as the petrol and diesel prices went up by at least 50 fils for the month of July, ride-hailing company Uber has followed suit.
The company sent out an email on Friday to inform about the fare hike. Uber would charge as much as 11 per cent extra for some trips, the American company added.
The hike is Uber’s second this year in the UAE, after a hike in March but the UAE’s market-linked price for the black gold has continued unabated. The country opted for a dynamic pricing with global trends in 2015. But Russia’s attack on Ukraine has messed all economies around the world.
Yet, petrol in UAE is three times more expensive than in Kuwait and almost double the average cost per litre in the six-member Gulf Cooperation Council, according to a Bloomberg report.
Dynamic pricing
Uber is not alone with Sharjah Taxi also deciding to base their fares with the rise or fall of fuel prices with this month.
The Sharjah Roads and Transport Authority (SRTA) said the meter flag down rate will be increased or decreased every month in direct co-relation with the prices. Petrol prices in the UAE have jumped over 56 per cent since January 2022.
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Also read: UAE ranks first regionally and twelfth globally in growth potential
UAE petrol price to get costlier by 50 fils in July 2022
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Early last month, Suhail Al Mazrouei, Minister of Energy and Infrastructure, had admitted that prices could go higher as Chinese demand is likely to recover significantly while efforts by Opec+ to raise production were not yielding results fast enough.
The latest data showed Opec+ was running 2.6 million barrels a day short of its production target, Mr Al Mazrouei said at the Middle East and North Africa-Europe Future Energy Dialogue in Jordan.
He expects China, the world’s biggest importer and second largest economy, which has been easing its coronavirus lockdowns, to “come with more consumption”.
“With the pace of consumption we have, we are nowhere near the peak because China is not back yet,” Mr Al Mazrouei said. “The situation is not very encouraging when it comes to the quantities that we can bring. We’re lagging by almost 2.6 million barrels a day and that’s a lot.”
Dubai most expensive city in the Gulf
Meanwhile, Dubai has been ranked among the world’s most expensive cities to live and work in for expatriates this year, according to the Cost of Living survey by Mercer.
The study, which looks at how the rising cost of living has impacted workers’ financial wellbeing in 227 cities worldwide, placed Dubai in the 31st position.
The emirate, which has been seeing a growing influx of millionaires and demand for property recently, emerged as the costliest city in the Gulf Cooperation Council (GCC) region, beating out the neighbouring cities of Riyadh, which landed in the 103rd position, Jeddah (111th place), Manama (117), Muscat (119), Kuwait City (131) and Doha (133).
If you’ve ever fumbled for a parking ticket while leaving City Walk or queued at a payment machine, those days are over.
Dubai’s popular lifestyle destination has rolled out a barrierless, ticketless parking system, allowing motorists to drive in and out without collecting a ticket or stopping to pay before exiting.
The new system, introduced by Parkin, uses automatic number plate recognition technology to record when vehicles enter and leave the parking facility, making the entire process faster and more convenient.
How the new parking system works
Instead of paper tickets and exit barriers, cameras identify your vehicle when you enter and exit City Walk.
Parking fees are calculated automatically based on the length of your stay.
If you have a Parkin account, the fee is deducted automatically. Visitors without an account, or those with insufficient balance, will receive a payment link to complete the transaction digitally.
The move is part of Dubai’s wider shift towards smart mobility and cashless services.
Parking charges at City Walk
Visitors can still enjoy one hour of free parking at City Walk.
After the complimentary period, parking is charged at:
- Dh5 per hour, or part of an hour.
For visitors heading to The Boulevard, a different tariff applies.
The first 30 minutes are free, after which parking costs Dh20 per hour. According to City Walk, these charges are automatically deducted through the visitor’s Salik account.
How to get free parking
Visitors spending Dh50 or more at participating outlets can receive up to three hours of complimentary parking.
To claim the benefit, shoppers and diners must validate their parking at the participating retailer before leaving.
Parking validation is also available for eligible visitors at attractions including Roxy Cinemas, The Green Planet and selected participating outlets.
Part of a growing smart parking network
City Walk is the latest destination to embrace ticketless parking as Dubai continues expanding digital payment solutions across the city.
Earlier, Parkin announced a five-year agreement with Al Ghurair Centre to introduce a similar smart parking system.
Under that arrangement, visitors receive three hours of complimentary parking before charges apply from Monday to Saturday, while parking remains free on Sundays and public holidays.
With barrierless parking now becoming more common across Dubai, motorists can expect quicker entry and exit, fewer queues and a smoother parking experience, without the hassle of paper tickets.
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