UAE petrol prices for March 2024 are set to be announced today, Thursday February 29. After a small increase in petrol prices in February, we’re hoping to see a decrease in the rates for petrol and diesel in Dubai next month. The year started with a decrease in UAE petrol prices in January, but there was a marginal increase for February.
Meanwhile, oil prices dropped on Monday, extending losses on market views that higher-than-expected inflation could delay cuts to high interest rates that have been capping growth in global fuel demand.
Brent crude futures for April settlement slipped $0.40 or 0.45 per cent to settle at $81.25 per barrel, as at 04:09 pm GST on February 26.
The dip extended losses registered last week, when Brent lost about 2 per cent and WTI fell more than 3 per cent on signs that the US Federal Reserve is in no rush to cut interest rates. A stronger dollar makes oil more expensive for buyers holding other currencies.
Oil prices have been trading between $70 and $90 a barrel since November as rising US supply and concern over weak Chinese demand offset OPEC+ supply cuts despite the ongoing conflicts in Eastern Europe and the Middle East.
New UAE petrol prices for March are expected to be revealed on Thursday February 29, as the country’s fuel price committee meets at the end of every month. The new rates will then come into effect on Friday March 1, 2024.
Current UAE petrol prices for February 2024 sit at:
Super 98 petrol: Dhs2.88 per litre, up from Dhs2.82 in January
Special 95 petrol: Dhs2.76 per litre per litre, up from Dhs2.71
E-plus 91petrol: Dhs2.69 per litre, up from DhsDh2.64
Diesel: Dhs2.99 per litre, down from Dhs3
UAE petrol prices
UAE petrol prices change every month. Since 2015, the UAE has revised petrol prices monthly in line with global rates. UAE petrol prices reached an all-time high in July 2022, with Super 98 costing Dhs4.63 per litre. In 2023, petrol prices peaked in October, and declined in November, December and January.
You can see how prices have fluctuated in recent months below.
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UAE petrol prices recap:
January 2023
Super 98 petrol: Dhs2.78.
Special 95 petrol: Dhs2.67.
E-Plus 91 petrol: Dhs2.59.
Diesel: Dhs3.29.
February 2023
Super 98 petrol: Dhs3.05.
Special 95 petrol: Dhs2.93.
E-Plus 91 petrol: Dhs2.86.
Diesel: Dhs3.38.
March 2023
Super 98 petrol: Dhs3.09.
Special 95 petrol: Dhs2.97.
E-Plus 91 petrol: Dhs2.90.
Diesel: Dhs3.14.
April 2023
Super 98 petrol: Dhs3.01.
Special 95 petrol: Dhs2.90.
E-Plus 91 petrol: Dhs2.82.
Diesel: Dhs3.03.
May 2023
Super 98 petrol: Dhs3.16.
Special 95 petrol: Dhs3.05.
E-Plus 91 petrol: Dhs2.97.
Diesel: Dhs2.91.
June 2023
Super 98 petrol: Dhs2.95.
Special 95 petrol: Dhs2.84.
E-Plus 91 petrol: Dhs2.76.
Diesel: Dhs2.68.
July 2023
Super 98 petrol: Dhs3.00
Special 95 petrol: Dhs2.89.
E-Plus 91 petrol: Dhs2.81.
Diesel: Dhs2.76.
August 2023
Super 98 petrol: Dhs3.14.
Special 95 petrol: Dhs3.02.
E-Plus 91 petrol: Dhs2.95.
Diesel: Dhs2.95.
September 2023
Super 98 petrol: Dhs3.42.
Special 95 petrol: Dhs3.31.
E-Plus 91 petrol: Dhs3.23.
Diesel: Dhs3.40.
October 2023
Super 98 petrol: Dhs3.44.
Special 95 petrol: Dhs3.33.
E-Plus 91 petrol: Dhs3.26.
Diesel: Dhs3.57.
November 2023
Super 98 petrol: Dhs3.03
Special 95 petrol: Dhs2.92
E-Plus 91 petrol: Dhs2.85
Diesel: Dhs3.42
December 2023
Super 98 petrol: Dhs2.96.
Special 95 petrol: Dhs2.85.
E-plus 91petrol: Dhs2.77.
Diesel: 3.19.
January 2024
Super 98 petrol: Dh2.82 per litre
Special 95 petrol: Dhs2.71 per litre
E-plus 91petrol: Dhs2.64 per litre
Diesel: Dhs3.00 per litre
Fuel prices in the country were liberalized in 2015, with local rates being aligned with global oil prices. The government hopes the measure will encourage more residents to use public transport while also encouraging the use of alternative fuels.
