Petrol prices in the country cost a third less than the world average
The UAE Fuel Pricing Board is expected to announce retail fuel prices for the month of December tomorrow.
Since the government decided to deregulate retail fuel prices in August 2015, the committee has been updating the rates monthly. For the past several months, the committee has announced the rates on the last day of each month.
After slashing prices for three consecutive months, retail fuel prices rose more than 9% in November, in line with the surge in world crude prices.
After peaking in July 2022 when retail fuel prices hit an all-time high in the UAE, fares have been reduced in August, September and October.
In July, the Super 98 cost Dh4.63 per litre, while the Special 95 and E-Plus cost Dh4.52 and Dh4.44 per liter respectively.
On Tuesday, oil prices jumped 3% as markets expect China’s strict Covid-19 restrictions to ease over the weekend.
Brent crude futures gained $2.50, or 3%, to $85.69 a barrel, while US West Texas Intermediate (WTI) crude futures rose $1.98 , or 2.6%, to $79.22 on Tuesday afternoon.
As of November 21, petrol prices averaged Dh3.2 per liter in the United Arab Emirates, almost 33% lower than the global average.
|Month||Great 98||Special 95||E-Plus|
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