The United Arab Emirates (UAE) has announced an increase in fuel prices for February, marking the first hike in two months after a period of unchanged rates. The new prices, which will take effect on February 1, were revealed by the UAE Fuel Price Committee on Wednesday.
Under the revised rates, Super 98 petrol will cost Dh2.74 per litre, up from Dh2.61 in January. Special 95 petrol will rise to Dh2.63 per litre, compared to the previous Dh2.50, while E-Plus 91 petrol will now be Dh2.55 per litre, increasing from Dh2.43. Diesel prices will also see an upward adjustment, rising to Dh2.82 per litre from Dh2.68 last month.
The decision to increase fuel prices aligns with global oil market trends, as the UAE deregulated petrol prices in 2015 to reflect international fluctuations. Prices are reviewed and adjusted at the end of each month, based on global crude oil costs and refining charges.
The latest hike comes as oil prices remain volatile amid geopolitical tensions and production adjustments by major oil-producing nations. Although global crude prices had softened in recent months, factors such as supply cuts by OPEC+ and rising global demand have contributed to fluctuations in fuel rates.
Higher fuel prices are expected to have a ripple effect on transportation and logistics costs, potentially impacting businesses and consumers. However, the UAE continues to maintain some of the most competitive fuel prices in the region, benefiting from its status as a key oil producer.
Motorists and businesses relying on fuel for operations will need to factor in the increased costs as they plan their budgets for the coming month. Meanwhile, consumers may also experience minor price adjustments in goods and services due to the potential rise in transportation expenses.
As the global energy landscape continues to shift, the UAE will continue to monitor fuel price trends, adjusting rates accordingly in line with international market movements.
