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Oil pinch hurt growing in the UAE as Uber, Sharjah Taxi take cues

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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.

Dubai-expensive 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).

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Dubai Ruler calls on citizens and residents to raise UAE flag in nationwide show of unity and resilience

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In a powerful message of national unity, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has called on everyone across the nation to raise the UAE flag over homes, buildings, and institutions.

The call underscores a renewed emphasis on national identity, collective responsibility and social cohesion, reinforcing the flag’s role as a unifying symbol across the country.

Sheikh Mohammed said the UAE had navigated recent challenges with strong unity, emerging more cohesive and aligned across all segments of society, including citizens and residents, as well as public and private sectors.

“The UAE faced recent challenges united and has come through them stronger and more cohesive. Everyone stood behind one flag,” he said.

“The UAE flag reflects our strength and what we have built as a country. I invite everyone to raise it across homes and workplaces.”

He added: “We take pride in our country, our President, our Armed Forces, our economy, and all citizens and residents who move this country forward every day.”

Sheikh Mohammed further urged that the flag be raised across every home and building, describing it as a reflection of unity and a shared sense of belonging.

The initiative highlights the importance of national identity and shared values, while recognising the contributions of individuals and institutions across the country, including frontline teams and those supporting the UAE’s continued development.

It also reinforces that raising the flag is a collective expression of solidarity, reflecting cohesion across society and a shared sense of belonging.

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Dubai’s new shop and park cashback initiative to help motorists offset parking fees by supporting local businesses 

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As the city navigates a complex month of regional shifts and unsettled weather, Parkin Company, Dubai’s largest provider of paid public parking, has launched a timely initiative to revitalise local commerce. The new Spot for Shops programme, unveiled on Thursday, allows motorists to offset their parking fees by supporting neighbourhood shops across the city.

Turning parking into local support
Under the new scheme, customers making qualifying purchases at participating small businesses can have their parking fees credited back to their Parkin wallet. The validation process is handled seamlessly via the Parkin app using the customer’s mobile number.

“Small businesses play a vital role in Dubai’s economic landscape,” said Osama AlSafi, Chief Operating Officer at Parkin. “By connecting parking with everyday retail experiences, we are making it easier for customers to access neighbourhood destinations while supporting the city’s growth.”

The first wave of ‘Hidden Gems’
The pilot phase, set to go live in early May 2026, includes 15 initial outlets. High-profile neighbourhood staples such as the legendary Ravi Restaurant, Beirut Blendz, Cycle 2 Cycle, and Naif Bakery are among the first to join the programme. This move is expected to significantly boost footfall for community retailers at a time when residents are staying closer to home due to intermittent rainfall and regional travel caution.

Navigating a shifting landscape
The launch comes as the Dubai entertainment and music industry continues to pivot toward localised experiences. With international event schedules being recalibrated due to the ongoing regional crisis, the “Spot for Shops” initiative aligns with a broader city-wide trend: a return to community-centric living.

How to claim your parking cashback:

  1. Park: Use any paid Parkin space near a participating business.
  2. Pay: Complete your initial parking fee via the app or SMS as usual.
  3. Shop: Visit a participating outlet (look for the Spot for Shops signage).
  4. Validate: The merchant validates your parking via your mobile number.
  5. Earn: The cashback value is credited instantly to your Parkin wallet.

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Dubai mosques to get EV charging stations in new sustainability move

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Your local mosque parking lot is get about to become a green hub. Dubai’s Islamic Affairs and Charitable Activities Department (IACAD) has signed a major deal to bring electric vehicle (EV) charging stations to mosque parking spaces across the city.

The 8-year agreement was signed (April 8), with the Emarat EV Charging Stations Company (UAEV). This move turns mosque parking areas into convenient spots for residents to power up their cars during prayer times or visits.

This isn’t just about a few plugs; it’s a full-scale smart infrastructure project:

  • Advanced Tech: Installation of modern, high-speed charging units.
  • Smart App: A dedicated digital application will show you exactly where the nearest available mosque charger is in real-time.
  • Easy Payments: Secure, integrated smart payment systems for a seamless experience.
  • Continuous Care: UAEV will handle all maintenance and performance monitoring.

This initiative follows just days after the announcement of 600 new supercharging spaces being installed at public parks and beaches.

  • Community Hubs: Mosques will now serve as multi-functional spaces that support sustainable mobility.
  • Environmental Goals: The project supports the UAE’s mission to have 50% of vehicles on the road be battery-electric by 2050.

Finding a charger in Dubai is getting much easier. By integrating clean energy into community spaces like mosques, Dubai is making eco-friendly living a natural part of daily life.

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