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Friday, April 12, 2024
Today's News

UAE set to announce retail fuel prices for February

UAE set to announce retail fuel prices for February

Monthly prices are upgraded at the end of each month ever since the nation deregulated costs in August 2015 to bring neighborhood rates in line with worldwide ones

The UAE is anticipated to reveal retail gas costs for the month of February tomorrow.

The fuel rate committee updates the regular monthly retail gas prices at the end of monthly considering that the nation decontrolled costs in August 2015 to bring regional rates according to the international.

The committee reduced costs for the months of December 2022 as well as January 2023 as oil prices have actually been going down, of late, as a result of international economic slowdown and recessionary worries.

Brent crude was trading at $86.86 a barrel while US West Texas Intermediate unrefined stood at $79.76 on Monday mid-day.

Retail gas prices in the UAE are among one of the most economical worldwide at Dh2.67 per litre as on January 23 as contrasted to the global standard of Dh4.79 per litre.

For the month of January, the Super 98 rate was lowered Dh0.52 to Dh2.78 per litre, the Special 95 cost was reduced Dh0.51 to Dh2.67 and E-plus 91 rate was lowered to Dh2.59.

Oil prices in the UAE as well as around the world stayed high initially and also middle of in 2014 after the Russian-Ukraine dispute, pushing fuel costs to the highest possible ever before in July when Super 98 was costing Dh4.63 per litre and Unique 95 at Dh4.52 a litre.

UAE retail fuel rates in 2022 (Dirhams per litre).

Month Super 98 Special 95 E-Plus
January 2.65 2.53 2.46
February 2.94 2.82 2.75
March 3.23 3.12 3.05
April 3.74 3.62 3.55
May 3.66 3.55 3.48
June 4.15 4.03 3.96
July 4.63 4.52 4.44
August 4.03 3.92 3.84
September 3.41 3.3 3.22
October 3.03 2.92 2.85
November 3.32 3.2 3.13
December 3.3 3.18 3.11
Jan-23 2.78 2.67 2.59

Last Updated:  31 January 2023

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