UAE Announces Lower Petrol Prices for December 2024

This coming December 2024, a good piece of information for car drivers in the UAE: the price of petrol has been lowered. The UAE Fuel Price Committee has stated that Super 98 of the previous month at AED 2.74 per litre will reduce to AED 2.61 in December. Likewise, Special 95 will be now selling at AED 2.50/litre as against AED 2.63/litre in the last month.

Fuel prices and Related component costs: average pump prices for regular diesel: gasoline prices and related components adjusts slightly upward

Petrol continues on a falling trend but diesel will just rise slightly in December from AED 2.67 to AED 2.68 per litre.

Super 98 Prices: A Year in Review

Here’s a month-by-month breakdown of Super 98 fuel prices in 2024, inclusive of 5% VAT:

• January: AED 2.82
• February: AED 2.88
• March: AED 3.03
• April: AED 3.15
• May: AED 3.34
• June: AED 3.14
• July: AED 2.99
• August: AED 3.05
• September: AED 2.90
• October: AED 2.66
• November: AED 2.74
• December: AED 2.61

The brief history of fuel prices in the UAE

The UAE floated the fuel price in August 2015 leaving behind the previous government subsidies under which the people did not feel the actual price of petrol in the global market. The perception change facilitates the setting of domestic fuel prices based on the prevailing international market rates.

The new prices came into effect on Monday with motorists in the UAE being able to expect some relief on their fuel bills when they fill up their tanks in December while the slight hike in diesel prices should not have a very material impact to transportation costs.