UAE: Petrol, diesel prices for February 2025 announced

The UAE announced the retail fuel prices for February 2025 on Friday, raising the rates by as much as 0.13 fils per litre compared to the previous month.

From February 1, 2025, Super 98 petrol will cost Dhs2.74 a litre, up from Dhs2.61 a litre in January, while Special 95 will cost Dhs2.63 a litre, compared to Dhs2.50 a litre a month earlier. Petrol prices in January 2025 remained unchanged from December 2024 and were the lowest in the past year.

Meanwhile, global oil prices surged at the beginning of 2025 due to US sanctions on Russia. However, concerns about trade wars and weak economic data from China largely offset these initial gains. Market volatility is anticipated as policies are implemented, with President Donald Trump urging OPEC+ to contribute to lower crude prices.

Saudi Arabia’s energy minister and several of his OPEC+ counterparts have held talks following the US President’s call for lower oil prices and ahead of a meeting next week of OPEC+ oil-producing countries.

OPEC+ has yet to respond, but five OPEC+ delegates said a meeting of the group’s top ministers on February 3 is unlikely to adjust its current plan to start raising output from April. OPEC+ groups members of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia.

Brent crude futures for March, which expires on Friday, gained 4 cents at $76.91 a barrel by 12:32 p.m. GST on January 31. The more active April contract was at $76.19 a barrel, up 30 cents, while US West Texas Intermediate crude futures rose by $0.13 or 0.22 per cent to $72.91 a barrel.

Read: UAE petrol, diesel prices remain unchanged for January 2025