UAE fuel prices to fall for fifth month in a row in January

Fuel prices in the UAE are to drop for a fifth consecutive month, the Ministry of Energy has announced.

From January 1, the cost of petrol products will be 6 per cent lower, while diesel is to be 12 per cent cheaper.

This means that Super will cost Dh1.69 a litre compared with Dh1.79 in December, Special will be Dh1.58 compared to Dh1.68, diesel Dh1.61 compared to Dh1.83, and E Plus is to fall to Dh1.51 from Dh1.61.

The liberalisation of the pricing of fuel, which took effect from August, led to a reduction in fuel subsidies.

After an intial rise, prices have dropped during the past few months as the cost of Brent crude reached an 11-year low last week and was this morning trading at $37.60 a barrel on the London-based ICE Futures Europe exchange. Brent prices are down 16 per cent this month, the biggest drop since July.
Source: The National