Know The Reasons and Updated Petrol Prices in UAE

Know About Updated Petrol Prices in the UAE

It is known that fluctuations in petrol prices in the UAE affect everyone. Even the slightest fluctuation in UAE fuel costs impacts people who use their own private transport for daily commutes. These fluctuations in prices directly/ indirectly impact households. Additionally, petrol price fluctuations can lead to budget constraints and disturb one’s monthly expenses. Therefore, it is important to keep track of petrol prices. As per the UAE Fuel Price Committee’s recent announcement, you can expect a surge in petrol prices from February 2024. This implies that now you will have to shell out more money for this essential commodity.  

Read this blog to learn more about recent UAE petrol price updates.

Updated Petrol Prices In the UAE For February 2024

The following table provides a closer look at the petrol prices in the UAE for February 2024. It is important to note that the fuel price per litre is the same across the country. Thus, if you reside in a home in Dubai/ a rental flat in Sharjah, you’ll have to pay the listed below UAE fuel prices.  

Fuel Type

Price in February 2024

% Increase

Price in January 2024

Price in December 2023

Super 98

AED 2.88

2.12%

AED 2.82

AED 2.96

Super 95

AED 2.76

1.8%

AED 2.71

AED 2.85

E-Plus 91

AED 2.69

1.8%

AED 2.64

AED 2.77

Diesel

AED 2.99

0.3% (Decrease)

AED 3

AED 3.19

The above-mentioned cost is the Dubai petrol price per litre for February, effective in all the emirates of the UAE. Therefore, plan your monthly budget accordingly. The same per-litre price in Dubai will be available for Oct. ‘23 at ADNOC, ENOC, EPPCO and Emarat fuel stations throughout the city. After knowing the fuel price in the UAE for Oct. ‘23, you can refuel your car/ bike at one of the above-stated petrol stations in Dubai. In case you don’t have time, you can always use Cafu. Cafu is a mobile fuel service in the UAE and gives fuel at the same rate as a petrol station. 

How are Petrol Prices Set in the United Arab Emirates?

How are Petrol Prices Set in the United Arab Emirates

The Ministry of Energy determines monthly fuel prices in the UAE by different criteria. The factors range from average global oil prices to up/ down. They also add operating rates of distribution businesses. The alignment of local fuel price rates with global rates is done by the United Arab Emirates. Therefore, since 2015, they have revised the rates at month’s end to bring the two together.   

What is the Reasons for Petrol Price fluctuation in the UAE?

The Reasons for Petrol Price Fluctuation in the UAE

Factors like global oil prices are one of the major reasons for petrol price fluctuation in the UAE. Although the UAE is one of the primary producers of the oil producer, geopolitical events affect the rates of crude oil prices. Similarly, supply, demand, and production rates also directly impact petroleum prices. It is known that the petroleum prices in the UAE are tied to the American dollar. Since petrol is traded in dollars, a weaker UAE currency could increase petrol prices. Additionally, the government plays an important role in deciding the petrol prices in the UAE. Therefore, new policies, taxes and subsidies can also impact the fluctuation. 

Other reasons, like transportation costs and seasonal demand, also directly affect the petrol price fluctuation in the UAE. This is because there are a lot of logistical and infrastructural challenges to transport petrol from refineries to petrol stations. Additionally, seasonal trends like an increase in tourist footfall also increase the demand for petrol, thereby increasing the prices. Hence, even the oil-rich countries like the UAE are affected by these factors and thus see an increase in petrol prices.

Conclusion

Petrol is an essential commodity and is required by almost every individual. Additionally, various global factors affect the petrol price fluctuations. It is always wise to keep track of the changing trends in petrol prices. This way, you can smartly plan your monthly budget to manage the expenses. Doing this can save a lot of money on your next trip or daily commute. Hence, it is advisable to be aware of the factors affecting petrol prices in the UAE  and then decide on your next vacation or a long drive.

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Frequently Asked Questions (FAQs)

What are the different types of petrol available in the UAE?

As a citizen, you have access to 4 major variants of petrol in the UAE. These are E-Plus (91 Octane), Special (95 Octane), Super (98 Octane) and Diesel.

Which type of petrol should I use in my car?

If your car has a high-performing engine, you should opt for Super 98 Octane fuel. Similarly, the Special 95 Octane is desirable for cars with medium-compression engines in the UAE.

How can I save money on petrol?

You should select the right type of fuel for your car engine and follow basic tricks to save on petrol. You can turn off the engine at the red signal, use public transport/ carpool, and switch off the AC regularly to save fuel.

Where can I find the current petrol prices in the UAE?

You can find the current petrol prices in the UAE on the official Square Yards website.

Why are petrol prices in the UAE higher than in some other countries?

Due to the recent Russia-Ukraine conflict and other geopolitical factors, the petrol prices in the UAE are higher than in some other countries.

Abhay Sharma Abhay is a content writer by profession. He is a true foodie at heart and loves to binge watch movies and series. With a brief experience as a finance blogger he hopes to write some great articles for Square Yards.
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