If you’re about to head to the petrol station to fill up your Rolls-Royce Sweptail, Koenigsegg CCXR Trevita or Lamborghini Veneno Roadster (we should be so lucky!) then you might want to wait one more day as the UAE Fuel Price Committee has reduced prices for the month of February 2019 by 2.5 per cent for Super 98. That makes it a fourth consecutive month where prices for fuel in the country have fallen.
Prices fluctuate every month ever since the UAE's Ministry of Energy deregulated fuel prices in the UAE back on the 1st of August 2015 and aligned them with international crude prices so now they move with the market. Before 2015, the price of fuel used to be subsidised by the government and this acted as a shield for consumers from global fluctuations. 2019 began with a considerable drop when the price of Special 95 fell below Dh2 a litre.
February fuel prices:
Super 98: Dh1.95 per litre - down by 2.5 per cent
(Dhs2 in January)
Special 95: Dh1.84 per litre - down by 2.65 per cent
(Dhs1.89 in January)
Diesel: Dh2.28 per litre - down by 0.87 per cent
(Dh2.30 in January)
All prices include the VAT rate of 5 per cent.