Yearly Low In a consistent trend, the UAE experienced a third consecutive month of reduced petrol prices, nearing the lowest levels seen in the past year. The Fuel Price Committee implemented a substantial 4.8% cut, equivalent to 14 fils per litre, positioning Super 98, Special 95, and E-Plus 91 at Dh2.82, Dh2.71, and Dh2.64, respectively.
Global Oil Market Dynamics: A Key Influence on Petrol Prices: Yearly LowÂ
Brent’s Fluctuations and Their Impact on Local Fuel Rates
The fluctuating global oil market, where Brent traded around $80 per barrel in December and $70 in November, played a pivotal role in driving down petrol prices. Despite this, UAE petrol prices stand at over 43% lower than the global average. As one of the major crude producers globally, the UAE consistently ranks among the top 25 countries with the lowest retail petrol prices, emphasizing its commitment to providing affordable fuel to consumers.
A Year in Review: Petrol Price Trends in the UAE: Yearly Low
Comparing 2023 and 2024 Rates
A comprehensive look at petrol prices over the past year highlights significant fluctuations. January 2024’s rates closely align with those observed in January 2023, reinforcing the ongoing trend of price reductions and the UAE’s dedication to ensuring accessible fuel for its residents.
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