The UAE is poised to reveal the upcoming petrol prices for February later this week.
Over the past three months, petrol and diesel prices nationwide have seen a significant decrease, prompted by fuel cost reductions in November, December, and January.
Throughout 2023, petrol prices in the UAE experienced fluctuations, both rising and falling.
UAE Petrol Prices for February 2024:
In January 2023, E-Plus 91 was priced at AED 2.95 per litre, and diesel was set at AED 3.29 per litre. Presently, both are notably cheaper at AED 2.64 per litre and AED 3 per litre, respectively. Special 95 and Super 98 maintain approximately the same prices as January last year.
Since January 1, the fueling costs in the UAE have been:
- Special 95: AED 2.71 per litre, down from AED 2.85 in December
- Super 98: AED 2.82 per litre, down from AED 2.96 in December
- E-Plus: AED 2.64 per litre, down from AED 2.77 in December
- Diesel: AED 3 per litre, down from AED 3.19 in December
In response to the COVID-19 pandemic in 2020, the Fuel Price Committee froze petrol prices in the UAE, preventing any alterations. However, in March 2021, as global oil prices began to rise, the controls were lifted, allowing market forces to once again determine petrol prices.
Additionally, the fluctuation in petrol prices is also influenced by changes in crude oil prices worldwide, according to Arabian Business.