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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).

Journalist for 25 years with leading publications in India and UAE such as The National, Mumbai Mirror, DNA, Indian Express and former Sports Editor of eIndia.com. Now managing editor of Headline.ae, part of MEMc (https://www.memc.co)

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Dubai’s Road Renaissance: Four Upgrades Steering Us Forward

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Dubai, a city renowned for its futuristic skyline and innovative infrastructure, is once again at the forefront of urban development with a major upgrade to its road network. Designed to improve traffic flow, enhance safety, and accommodate the city’s rapid growth, these changes are set to redefine the commuting experience. Here are the four key changes every resident and visitor should know about:

  1. Expansion of Key Highways

The first significant upgrade involves the expansion of Dubai’s key highways. Sheikh Zayed Road, the main artery that runs through the city, is undergoing a massive widening project. Additional lanes are being added to alleviate congestion during peak hours, promising smoother and faster commutes. The expansion extends to other critical routes such as Emirates Road and Sheikh Mohammed bin Zayed Road, ensuring that the city’s growing traffic demands are met with efficiency.

  1. Introduction of Smart Traffic Management Systems

Dubai is embracing smart technology to revolutionise its traffic management. New intelligent traffic systems (ITS) are being installed across the city, featuring advanced sensors and cameras that monitor traffic conditions in real-time. These systems can automatically adjust traffic signals, provide live updates to drivers via digital sign boards, and even reroute traffic during emergencies. The result is a more responsive and adaptive traffic flow, reducing delays and improving overall road safety.

  1. Enhanced Pedestrian and Cycling Infrastructure

Recognizing the importance of sustainable and healthy transportation options, Dubai is significantly enhancing its pedestrian and cycling infrastructure. New dedicated bike lanes and pedestrian paths are being constructed, particularly in busy urban areas and around popular attractions. These paths are designed to be safe and accessible, encouraging more residents and tourists to opt for walking or cycling as their preferred mode of transport. The initiative not only promotes a healthier lifestyle but also helps to reduce the city’s carbon footprint.

  1. Upgraded Public Transportation Hubs

The upgrade extends beyond roads to include public transportation hubs, integrating them seamlessly with the road network. Major metro stations, bus terminals, and tram stops are being revamped to offer better connectivity and convenience. New park-and-ride facilities are being introduced, making it easier for commuters to switch between driving and public transport. The improved hubs aim to make public transportation a more attractive option, thereby easing the load on the city’s roads.

These major upgrades to Dubai’s road infrastructure are a testament to the city’s commitment to innovation and excellence in urban planning. By expanding highways, implementing smart traffic systems, enhancing pedestrian and cycling paths, and upgrading public transport hubs, Dubai is paving the way for a more efficient, safe, and sustainable future. As these projects come to fruition, residents and visitors alike can look forward to a transformed commuting experience, befitting a city that continues to lead the way in modern urban living.

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Sssshhh! Dubai’s silent radars are watching

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Dubai is taking a groundbreaking step to enhance road safety with the introduction of ‘silent radars’ designed to catch traffic violations in residential areas. This innovative initiative aims to protect communities by monitoring and addressing reckless driving without disrupting the tranquillity of neighbourhoods.

Enhancing Road Safety Quietly

The Roads and Transport Authority (RTA) of Dubai has announced the deployment of these advanced radars, which operate without the traditional flashing lights or loud sirens commonly associated with traffic enforcement. This technology promises to capture violations such as speeding, running red lights, and illegal lane changes discreetly, ensuring that residential areas remain peaceful while maintaining rigorous traffic law enforcement.

Advancing Technology

The silent radars employ state-of-the-art sensors and high-definition cameras to detect and record traffic offences. These devices are strategically placed in residential zones known for high traffic volumes or frequent violations, providing a silent sentinel that keeps a vigilant watch over the community. The data collected by these radars will be used to issue fines and warnings to offending drivers, encouraging safer driving habits without the intrusive presence of traditional radar systems.

Community Impact

Residents in various neighbourhoods have expressed relief and optimism regarding the implementation of silent radars. Many believe this move will significantly reduce incidents of reckless driving, making streets safer for pedestrians, especially children and the elderly. The silent nature of the radars ensures that while law enforcement is strengthened, the serene atmosphere of residential areas is preserved.

Authorities’ Perspective

According to the RTA, the silent radar system is part of a broader strategy to leverage technology for improving public safety. “Our goal is to create safer communities without compromising the peace and quiet that residents value,” said an RTA spokesperson. “Silent radars are a testament to our commitment to innovative solutions that balance effective law enforcement with community well-being.”

Future Prospects

As Dubai continues to grow and evolve, the implementation of silent radars is just one of many steps the city is taking to enhance traffic management and road safety. Authorities are exploring further innovations and technological solutions to keep pace with the demands of a dynamic urban environment.

In conclusion, the deployment of silent radars in residential areas marks a significant advancement in Dubai’s traffic enforcement strategy. By combining cutting-edge technology with a commitment to public safety, the city is ensuring that its roads are safer for everyone, making Dubai a model of modern urban living.

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Price Drop: Fuel in UAE to cost lower in July

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Petrol prices have reduced for the second time in July after dropping in June. The UAE fuel price committee announced the petrol and diesel prices for the month of July 2024 on Sunday. The rates will be applicable from July 1 onwards.

Super 98 petrol will cost AED2.99 a litre, down from AED 3.14 a litre in June, while Special 95 petrol will cost AED2.88 a litre, down from AED3.02 per litre the previous month.E-Plus 91 petrol will cost AED2.80 a litre, down from AED2.95 a litre, while diesel will cost AED2.89 a litre, up from AED2.88 a litre.

Since 2015, fuel prices in the UAE have been moving in line with the international markets.

Prices are determined by the fuel price committee, chaired by the undersecretary of the Ministry of Energy.

The committee includes members of the energy and finance ministries, as well as CEOs of Adnoc Distribution and Emirates National Oil Company.

The committee, when deciding the fuel pieces, does not rely on just one global market. It considers an average of global prices as well as operating costs of distribution companies.

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