Gasoline and Diesel Prices in UAE for January 2024

The United Arab Emirates has unveiled the new reduced fuel prices, with the Super 98 gasoline priced at 2.82 dirhams per liter, compared to 2.96 dirhams in December. The Special 95 gasoline will be priced at 2.71 dirhams per liter, down from 2.85 dirhams last month.

The price of E-Plus 91 gasoline will be 2.64 dirhams per liter, compared to 2.77 dirhams in December. At the same time, a fee of 3 dirhams per liter will be imposed on diesel, compared to 3.19 dirhams last month.

This marks the second consecutive month of fuel price reductions in the United Arab Emirates, indicating a promising economic start for consumers in 2024.

During December, the retail price of Super 98, Special 95, and E-Plus dropped by up to 0.7 fils to reach 2.96 dirhams, 2.85 dirhams, and 2.77 dirhams, respectively.

The diesel price also decreased by 0.23 fils to reach 3.19 dirhams in December, compared to 3.42 dirhams in the previous month.

The Fuel Prices Committee in the UAE convenes every month to decide whether prices will rise or fall.

Global oil prices did not witness significant changes on Wednesday, with investors monitoring developments in the Red Sea. Some major shipping companies resumed passage through the region despite ongoing attacks and wider tensions in the Middle East.

The International Energy Agency stated that it expects a slight surplus in global oil markets in 2024, even if OPEC+ extends its cuts into the next year.

Brent crude closed on Friday, the last trading day of the year, at $77.04 per barrel, down $0.11 or 0.14%, while West Texas Intermediate crude settled at $71.65 per barrel, down $0.12 or 0.17%.

The Middle East provides about one-third of the world’s oil, and the biggest threat to crude oil prices remains any escalation in the conflict between Israel and Gaza spreading to other regional powers.

Back to top button