Fuel prices fall in UAE: latest December rates revealed

The UAE has announced the retail fuel prices for the month of December. The fuel price committee reduced the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 7 fils per litre from the month of November.

From December 1, 2023, Super 98 petrol will cost Dhs2.96 a litre from Dhs3.03 a litre in November, while Special 95 will cost Dhs2.85 a litre compared to Dhs2.92 a litre the previous month, according to a social media post on from fuel retailing company Emarat’s official X account.

Diesel will cost Dhs3.19 a litre, down 23 fils from Dhs3.42 in November while the price of E-plus 91 dropped to Dhs2.77 compared to Dhs2.85 the previous month.

In November, the fuel price committee reduced the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 41 fils per litre. The UAE’s fuel price committee meets every month to decide whether prices will increase or decrease.

أسعار الوقود الشهرية: أسعار الوقود لشهر ديسمبر 2023 وفقاً للجنة متابعة أسعار الجازولين والديزل في #الإمارات

⛽ Monthly Fuel Price Announcement:
December 2023 fuel prices released by the #UAE Fuel Price Follow-up Committee. pic.twitter.com/tw6Gyp3HgY

— Emarat (امارات) (@EmaratOfficial) November 30, 2023

Meanwhile, global oil prices rose for a third consecutive day as investors awaited this week for a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, also known as OPEC+, and the expected production and supply curbs next year.

OPEC+ pumps approximately 40 per cent of the world’s crude and policy decisions can have a significant impact on prices.

The International Energy Agency said it expects a slight surplus in global oil markets in 2024 even if OPEC+ nations extend their cuts into next year.

Brent crude futures, which expire Thursday, climbed by $0.80, or 1 per cent to $83.86 a barrel by 12:40 GST, while US West Texas Intermediate crude futures rose $0.69 or 0.90 per cent at $78.53 a barrel.

The Israel-Gaza conflict had also impacted oil prices as investors worried about impacts on supply. The Middle East supplies about a third of the world’s oil and the biggest risk to crude prices remains any escalation of the Israel-Gaza conflict to other regional powers.

UAE petrol &diesel prices

Month	Super 98	Special 95	EPlus 91	Diesel
January	2.78	2.67	2.59	3.29
February	3.05	2.93	2.86	3.38
March	3.09	2.97	2.90	3.14
April	3.01	2.90	2.82	3.03
May	3.16	3.05	2.79	2.91
June	2.95	2.84	2.76	2.68
July	3.00	2.89	2.81	2.76
August	3.14	3.02	2.95	2.95
September	3.42	3.31	3.23	3.40
October	3.44	3.33	3.26	3.57
November	3.03	2.92	2.85	3.42
December	2.96	2.85	2.77	3.19

Read: UAE to announce petrol, diesel prices for December; will rates drop further?