The Government Announces Reduced Petrol Prices for December

Here is the good news over the long weekend!

The UAE government has announced reduces petrol prices for the month of December.

Starting on December 1, Super 98 petrol will cost Dhs3.30 a litre which was Dhs3.32 in November.

Special 95 petrol will cost Dhs3.18 per litre, compared to Dhs3.20 in November.

E-Plus 91 petrol will cost Dhs3.11 a litre, compared to Dhs3.13 a litre last month, while diesel will be charged at Dhs3.74 a litre compared to Dhs4.01 in November.

It is important to note that prices were reduced for three consecutive months, including August, September, and October. However, November faced increased prices by nine percent due to the global surge.

An amendment to bring the rate more in line with international trends is, therefore, likely.

In addition, oil prices jumped three percent on Tuesday.

In the UAE, prices went above Dhs4 for the first time in June, while the prices were highest in July, with Super 98 costing Dhs4.63 per litre.

Fuel prices in the country were liberalised in 2015, with local rates being aligned with global oil prices.

The government hopes the measure will encourage more residents to use public transport as well as incentivising the use of alternative fuels.

For the past seven years, the fuel price committee has met on a monthly basis to announce revised rates.