Ras Al Khaimah, UAE — The UAE is preparing to reveal the official fuel prices for December tomorrow, Saturday, November 30, with expectations of a slight reduction in rates to align with global market trends.
Updated on 30/11/2024: Fuel Prices Announced for December 2024
Here are the updated fuel prices in the UAE, effective from 1 December:
- Super 98 Petrol: Dh2.61 per liter (down from Dh2.74 in November).
- Special 95 Petrol: Dh2.50 per liter (down from Dh2.63).
- E-Plus 91 Petrol: Dh2.43 per liter (down from Dh2.55).
- Diesel: Dh2.68 per liter (slightly up from Dh2.67).
The potential adjustment follows a downward revision in November, which saw petrol and diesel prices decrease after several months of fluctuations. Last month, Super 98 petrol was priced at Dh2.74 per liter, Special 95 at Dh2.63 per liter, and E-Plus 91 at Dh2.55 per liter. These rates offered some relief to residents and businesses amid ongoing economic adjustments in the region.
A Look Back: 2024 Fuel Price Trends
Fuel prices in the UAE have experienced significant variations throughout 2024. Prices peaked in May, with Super 98 petrol hitting Dh3.34 per liter, before gradually declining over the following months. By November, prices were at their lowest levels of the year.
| Month | Super 98 | Special 95 | E-Plus 91 |
|---|---|---|---|
| January 2024 | Dh2.82 | Dh2.71 | Dh2.64 |
| February | Dh2.88 | Dh2.76 | Dh2.69 |
| March | Dh3.03 | Dh2.92 | Dh2.85 |
| April | Dh3.15 | Dh3.03 | Dh2.96 |
| May | Dh3.34 | Dh3.22 | Dh3.15 |
| June | Dh3.14 | Dh3.02 | Dh2.95 |
| July | Dh2.99 | Dh2.88 | Dh2.80 |
| August | Dh3.05 | Dh2.93 | Dh2.86 |
| September | Dh2.90 | Dh2.78 | Dh2.71 |
| October | Dh2.66 | Dh2.54 | Dh2.47 |
| November | Dh2.74 | Dh2.63 | Dh2.55 |
| December | Dh2.61 | Dh2.50 | Dh2.43 |
The UAE’s fuel price committee adjusts prices monthly based on global oil price movements, exchange rates, and other market factors. These revisions reflect the government’s commitment to maintaining a balance between economic sustainability and affordability for residents.
Global Trends and Local Impact
Global crude oil prices have recently shown signs of stabilization, influenced by ongoing geopolitical developments and OPEC+ production decisions. Analysts predict that any downward revision in UAE fuel prices for December will further support local businesses, particularly those in the logistics, tourism, and transport sectors, which are heavily reliant on stable energy costs.
What’s Next?
As residents and businesses in Ras Al Khaimah await the December fuel price announcement, many are optimistic about continued affordability at the pumps. Lower fuel costs could also provide a boost to holiday-season activities, as the emirate gears up for an influx of tourists and events.
