Home Industry Energy UAE announces petrol price hike for February Consumers will have to shell out a few fils more as authorities announced a hike in petrol prices for February by Gulf Business January 31, 2024 Image credit: Getty Images Petrol and diesel prices in the UAE are at one of their lowest levels in the past 12 months. The fuel prices have fallen for three consecutive months – November 2023 to January 2024, helping ease inflationary pressures for the retail consumer. However, a string of factors such as international crude demand driven by the US and China, the tensions in the Red Sea and a possible truce between Israel and Hamas, have led to a rise in global oil prices. The UAE authorities have announced a revision in fuel rates. Check out the new rates, applicable from February 1, in our live blog below. Tags Crude Oil Crude Oil Prices Fuel Prices petrol diesel UAE Fuel Price Committee You might also like Oil hovers below $70 for second day Will OPEC+ go forward with its planned oil output increase in October? Aramco CEO expects demand growth of 2 million bpd in second half OPEC+ likely to stick to output policy at JMMC meet