Price announcements for gasoline in the United Arab Emirates are scheduled to take place this next weekend.
Furthermore, in light of the excesses that are associated with the holiday season and the approaching celebrations for New Year's Eve, we are hoping to see even another reduction in the prices of gasoline and diesel in Dubai.
Gasoline prices fall in November and December
Following monthly increases from July to October 2023, the price of gasoline in the United Arab Emirates (UAE) fell in November and December 2023.
Gasoline price forecasts
It is anticipated that the new pricing for gasoline in the United Arab Emirates will be formally implemented on January 1, 2024. This is because the fuel price committee of the country meets at the end of each month.
The United Arab Emirates (UAE) typically adjusts the prices of its gasoline on the final day of the month, which will be Sunday, December 31, which is also known as New Year's Eve.
These are the current prices for gasoline and diesel in the United Arab Emirates as of December:
- The cost of a liter of Super 98 gasoline is now Dhs2.96, which is a decrease from Dhs3.03 in November.
- The price of a liter of Special 95 gasoline has decreased to Dhs2.85, down from Dhs2.92 in November.
- Petrol for E-Plus 91 is now priced at Dhs2.77 per liter, which is a decrease from Dhs2.85 in November.
- One liter of diesel now costs Dhs3.19, which is a decrease from Dhs3.42 in November.
The price reduction that was announced in December will be followed by the most recent announcement for January 2024.
The United Arab Emirates (UAE) has been bringing the cost of gasoline to worldwide standards on a monthly basis since the year 2015.
Oil prices around the world have experienced a minor decline as of Friday, December 29, with Reuters reporting a three percent reduction. This is due to investors monitoring routes through the Red Sea.
Gasoline prices in the United Arab Emirates reached an all-time high in July 2022, with the price of a liter of Super 98 reaching Dhs4.63.
Fuel costs reached their highest point in October of 2023, and they have been steadily decreasing ever since.
In 2015, the country's fuel prices were liberalized, and the local rates were brought into alignment with the cost of oil on the worldwide market.
Every month for the past eight years, the committee that oversees the price of fuel has convened in order to announce any changes to the rates.
In addition to providing incentives for the use of alternative fuels, the government is hoping that the policy would encourage a greater number of inhabitants to make use of public transportation.
