2023-12-31 11:08:45
Abu Dhabi: UAE has announced retail fuel prices for the first month of the new year. Fuel Price Committee of UAE has announced the price of petrol and diesel for January 2024. There is a slight reduction in fuel prices this time as well. In the last two months, the price has fallen.
An average of 14 fils has been reduced this time for various types of petrol. The new rates are effective from January 1. The new price of Super 98 petrol is Dh2.82 per litre. It was 2.96 dirhams in December. Special 95 petrol was priced at Dh2.85 per liter last month. The new price is 2.71 dirhams.
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E-Plus 91 petrol costs Dh2.64 per litre. There is a decrease of 13 fils compared to 2.77 dirhams in December. Diesel will be charged Dh3 per liter in January. 19 fils per liter less than last month’s 3.19 dirhams.
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After rising for the last four months, prices have started to decline since November. Every month since 2015, the UAE has been revising retail fuel prices according to the international market. Petrol prices in the country are more than 40 percent lower than the global average. Small fluctuations in fuel prices directly affect taxi companies, companies that use vehicles regularly, etc.
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The World Bank estimates that oil prices will drop to an average of $81 per barrel in 2024. The World Bank has warned that if the Israel-Hamas war creates a major crisis, prices will be unpredictable and could rise to $157 a barrel.
About Nishad Amin
Nishad Amin No Designation has been working in media for 16 years. Graduated in Mass Communication from University of Calicut, PG Diploma in Television Journalism from Calicut Press Club and Masters in English Literature. He was a journalist in Saudi Arabia for seven years. He has also worked as the General Secretary of the Indian Media Forum in Saudi Arabia. Worked as Senior Sub-Editor, Gulf News Editor and Senior Reporter in Suprabhatam, Malayalam News and Tejas dailies and in various bureaus and editorial desks in Kerala and Gulf in New Delhi, Riyadh, Jeddah and UAE. Samam, a part of Times of India, is a content producer in Malayalam. Read More
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