ABU DHABI, UAE – The prices of petrol and diesel are set to decrease in the country in January following fluctuations in the global oil market.
This change reflects a continuous trend observed in the fuel prices over the past few months, with September and October witnessing increases and November and December seeing reductions.
January’s fuel pricing per liter in the UAE will see notable decreases across various categories:
Super 98 will cost Dh2.82, down 4.7 percent from Dh2.96 in December.
Special 95 will be priced at Dh2.71, a 4.9 percent decrease from Dh2.85 in December.
Diesel will be available at Dh3, down 5.9 percent from Dh3.19 in December. E-plus 91 will be priced at Dh2.64, showing a 4.6 percent drop from Dh2.77 in December.
Since the liberalization of fuel prices in 2015, the UAE has allowed them to move in sync with the market.
Although prices were frozen in 2020 due to the coronavirus pandemic, the controls were removed in March 2021, reflecting the market’s dynamics once again.
The global oil market has been unstable throughout 2023, with Brent crude and West Texas Intermediate experiencing their biggest annual drop since 2020.
This decline is attributed to concerns about lower demand and various geopolitical and economic uncertainties.
Brent crude settled at $77.04 per barrel, and West Texas Intermediate finished at $71.65 a barrel on the last trading day of the year, both marking a significant decrease from the previous year.
