Fuel prices in the UAE for January 2024

For the third month in a row, the Fuel Prices Monitoring Committee decided to reduce gasoline and diesel prices during the month of January 2024 by an amount ranging between 13 and 14 fils for gasoline, and 19 fils for diesel per liter, compared to the prices of December 2023.

Fuel distribution companies announced the new prices, with implementation starting January 1, 2024, as the new pricing includes a 5% value-added tax.

The price of a liter of super gasoline “98” decreased by 14 fils from 2.96 dirhams in December to 2.82 dirhams in January, and a liter of special gasoline “95” decreased by 14 fils from 2.85 dirhams in December to 2.71 dirhams in January.

The price of a liter of E-Plus 91 gasoline also decreased by 13 fils from 2.77 dirhams in December to 2.64 dirhams in January. The price of a liter of diesel also fell by 19 fils per liter, from 3.19 dirhams in December to 3.0 dirhams in January.

The committee had approved reducing gasoline and diesel prices during the month of December 2023 by an amount ranging between 7 and 8 fils for gasoline and 23 fils for diesel per liter, compared to the prices of November 2023. It also approved reducing fuel prices during November 2023 by 41 fils for gasoline and 15 fils for diesel. per liter compared to October 2023 prices.

The fuel price standards approved by the Ministry of Energy are determined on a monthly basis, according to the average global price of oil, whether up or down, after adding the operating costs of distribution companies.

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