UAE Petrol Prices To Be Changed Next Week

With global rates rising, UAE petrol prices are most likely to change next week.

The UAE’s fuel price committee will meet to set both diesel and petrol prices by the end of January.

And the committee tends to follow global trends with its pricing.

At the end of December, prices dropped – in line with international rates – across the board, making January more affordable for UAE citizens.

Super 98 cost Dhs2.78 per litre, down from Dhs3.30 in December.

Special 95 cost Dhs2.67 per litre, down from Dhs3.18 in December.

Diesel cost Dhs3.29 per litre, down from Dhs3.74 in December.

And E-plus 91 cost Dhs2.95 per litre, down from Dhs3.11 in December.

But the picture looks likely to be different as we approach February.

The reason is that brent futures have risen 3.31 percent over the last 30 days, while US West Texas Intermediate (WTI) crude prices have risen from $76 to $82 a barrel since January 3.

The last time we saw rises like this was November, when the UAE fuel price committee upped the rate by nine percent – in line with a global surge at the time.

In 2022, UAE petrol prices went above Dhs4 for the first time in June.

And they reached an all-time high in July, with Super 98 costing Dhs4.63 per litre.

Prices then fell for three consecutive months in August, September and October.

Then the November hike was followed by a further reduction in December.

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

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