UAE: Companies’ fuel reimbursement expenses increased by 38%

It is one of the most often requested rewards in the nation

Companies in the country have reported a 38% increase in gasoline reimbursement costs as a result of the over 75% increase in petrol prices in the UAE between January and July of this year. According to recent statistics from employee benefits platform Bayzat, UAE employers spent an average of more than a third more every month between January and June on fuel reimbursements for their employees.

Fuel is one of the most popular reimbursements requested by UAE employees, according to the business. The average amount paid out for reimbursements has grown by 18%.

Due to persistently high global crude oil prices that frequently exceed $100 per barrel, the UAE raised fuel prices by half a dirham per litre for two consecutive months in June and July, hitting Dh4.63 per litre for Super 98.

The Bayzat survey discovered that demands for trip reimbursements had significantly increased as well. Over the first half of 2022, UAE businesses’ monthly average spending on travel expense reimbursement increased by more than five times. According to the data, the average cost of a travel reimbursement in June was 144% greater than it was in January of this year.

“It is not possible to clearly infer that business travel has increased because this reimbursement category may include travel costs such as employers’ required issuance of annual tickets home for employees. However, since average travel reimbursements have been rising month over month since the beginning of the year, it is clear that staff members are now more at comfortable traveling in the post-pandemic environment, the business stated.

More Topic:-

Leave a Reply

Your email address will not be published.