Fuel Costs In The UAE Are More Than 40% Less Than The Global Average

In the last four months, this is the first time that retail fuel prices have decreased.

The UAE now has petrol prices that are more than 40% less than the world average.

For the month of November, the UAE’s Fuel Price Committee decreased retail petrol prices for the three kinds by about 12%.

The price per litre of the three variants—Super 98, Special 95, and E-plus 91—will be Dh3.03, Dh2.92, and Dh2.85, respectively. This is nearly the lowest price point in the previous four months.

For the first time in the previous four months, retail fuel costs have dropped, which is good news for drivers across the nation.

The average price of Special 95, a 95-octane petrol, in the Dubai is Dh4.91, down 40.5% from Dh2.92 in November, according to globalpetrolprices.com.

The cost of petrol and diesel is a major factor in keeping the nation’s inflation under control. The main causes of inflation in the UAE are housing, transportation, food and beverage, and education. Approximately 13% of the overall inflation weight is attributed to transportation, as to Trading Economics.

As part of its deregulation program, the UAE has been updating monthly retail fuel prices since 2015 in order to bring the rates into line with international pricing. WTI and Brent were trading at $82.64 and $88.06 a barrel, respectively, on Tuesday afternoon.