The UAE’s Fuel Price Committee is set to reveal March petrol and diesel rates on February 29 to synchronize with global prices.
In February 2024, global oil prices increased by an average of 3.34%, or $2.6 per barrel, attributed to supply tightening and OPEC+ contemplating extended output cuts. Brent crude traded slightly above $80 a barrel for most days in February, showing a modest increase from the previous month, suggesting a potential local reflection in March adjustments.
On Wednesday, WTI crude traded at $78.49 per barrel, down by 0.48%, and Brent slipped 0.43% to $83.29 per barrel around mid-day UAE time. In the UAE, retail petrol prices were marginally raised for February, with Super 98, Special 95, and E-Plus 91 priced at Dh2.88, Dh2.76, and Dh2.69 per litre, respectively.
Motorists, particularly long-distance travelers, eagerly await petrol price announcements to adjust their monthly budgets. Local taxi operators also adapt their fares following petrol price announcements. Globally, oil price fluctuations and geopolitical considerations impact local fuel rates, influencing consumer spending and transport costs.
Month |
Super 98 |
Special 95 |
E-Plus 91 |
January (2023) |
Dh2.78 |
Dh2.67 |
Dh2.59 |
February |
Dh3.05 |
Dh2.93 |
Dh2.86 |
March |
Dh3.09 |
Dh2.97 |
Dh2.90 |
April |
Dh3.01 |
Dh2.90 |
Dh2.82 |
May |
Dh3.16 |
Dh3.05 |
Dh2.97 |
June |
Dh2.95 |
Dh2.84 |
Dh2.76 |
July |
Dh3 |
Dh2.89 |
Dh2.81 |
August |
Dh3.14 |
Dh3.02 |
Dh2.95 |
September |
Dh3.42 |
Dh3.31 |
Dh3.23 |
October |
Dh3.44 |
Dh3.33 |
Dh3.26 |
November |
Dh3.03 |
Dh2.92 |
Dh2.85 |
December |
Dh2.96 |
Dh2.85 |
Dh2.77 |
January (2024) |
Dh2.82 |
Dh2.71 |
Dh2.64 |
February |
Dh2.88 |
Dh2.76 |
Dh2.69 |