The UAE government announced in its monthly report on oil prices in the United Arab Emirates for the month of February 2024, as oil prices witnessed an increase in gasoline prices for the month of February, and diesel prices also witnessed a decrease in prices.
Gasoline prices in the UAE witnessed successive declines during the last months of last year and January of this year, while diesel prices witnessed a noticeable decline in prices compared to last January.
These new fuel prices in the UAE reflect the fluctuations witnessed in the global oil market, especially with the many factors the world is witnessing, which greatly affect the cost of fuel for consumers.
Gasoline and diesel prices in the UAE, February 2024
- Super 98: AED 2.88, up 2.1% from AED 2.82 in January
- Special Offer 95: AED 2.76, up 1.8% compared to AED 2.71 in January
- Diesel: 2.99 AED, down 0.3 percent compared to 3 AED in January
- EPlus 91: AED 2.69, up 1.8 percent compared to AED 2.64 in January
Geopolitical tensions affect petrol and diesel prices
It is noteworthy that geopolitical tensions greatly affect and play a pivotal role in diesel and gasoline prices in the world.
Fuel prices witnessed a successive decline over the next three months, especially after the increase in September and October.
This pattern reflects the uncertainty observed in global oil markets, and in turn, the UAE took a bold step by liberalizing gasoline and diesel prices, allowing them to align with market dynamics.
Natural gas prices in the UAE
It is also mentioned that the UAE government aims to reduce the negative impact of fuel emissions on the environment, so ADNOC provides natural gas for vehicles at a price lower than today’s petroleum prices.
The government aims to encourage converting their vehicles to gas, and the price of gas has been fixed since March 2017.
- Natural gas prices for vehicles in the UAE: 1.40 dirhams/cubic meter
