UAE hikes petrol prices for December after three months of cuts

The price of diesel has been kept steady

The UAE has hiked petrol prices for December, following three consecutive months of rate cuts, it was announced on Thursday.

The prices have been fixed at Dhs2.24 per litre for Super 98 petrol, down 1.8 per cent from November (and at the same rate as October), while one litre of Special 95 will cost Dhs2.12, up 1.4 per cent compared to the previous month.

The price of diesel has been kept steady at Dhs2.38 per litre in December.

The UAE links fuel prices to movements in international oil rates, which have seen high volatility in recent months.

Fuel prices in the UAE faced hikes for fourth consecutive months until rates were cut by 10 per cent in July.

They were again increased by 3 per cent in August, followed by a reduction of around 4 per cent in September, 1.75 per cent in October and around 1.5 per cent in November.