Petrol and Diesel prices in the UAE

The UAE is one of the biggest oil producing countries in the world. It’s no wonder that petrol and diesel prices are among the lowest here. In fact, since 2015, the Fuel Price Committee has existed to determine and control prices. An undersecretary of the Ministry of Energy is chairman, and other members include representatives from the Ministry of Finance, ADNOC and ENOC (Emirates National Oil Company). 

For January 2024, the prices are: Super 98 petrol AED 2.82 per liter, Special 95 petrol AED 2.71 per liter, and E-plus 91 petrol AED 2.64 per liter. Diesel went down to AED 3 per liter, marking a decrease in price for all types of fuel between December 2023 and January 2024. 

How are petrol prices determined in the UAE

The Fuel Price Committee uses S&P Global Platts’s monthly petroleum product benchmarks to determine the petrol prices in the UAE. S&P Global Platts has been a renowned energy industry’s information source for over a century, which gives it such a regarded position. 

With the information on hand, the Committee then incorporates a margin that accounts for operational and transportation costs: retailers (aka gas stations, for example) then implement the determined prices at the start of each month. This process exists to ensure a just pricing structure for all. 

According to the Energy Minister Suhail Al Mazroui, the initiative is completely in line with the UAE’s government strategic vision for the country to strengthen the economy, diversify income sources and increase competitiveness. 

How much does petrol and diesel cost in the UAE

In December 2023, the petrol and diesel cost in dirhams in the UAE was: 

• AED 2.77 for EPlus 91

• AED 2.85 for Special 95

• AED 2.96 for Super 98

• AED 3.19 for Diesel

All of these refer to one liter (1l) of fuel. 

Now, for January 2024, the Fuel Price Committee has announced retailers should adhere to the prices below, which represent an average 5% drop in cost. 

Super 98 petrol: AED 2.82/liter (December 2023 price: AED 2.96).

Special 95: AED 2.71/liter (December 2023 price: AED 2.85)

E-Plus 91: AED 2.64/liter (December 2023 price: AED 2.77) 

Diesel: AED 3/liter (December 2023 price: AED 3.19)

Petrol Price Variation in 2023

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