Fuel prices in UAE to increase in December

250

Staff Report

Dubai – Fuel prices in the UAE will go up for the month of December as the Ministry of Energy has announced on Tuesday new petrol prices for next month.
The per litre prices are Super 98 at Dh2.15 (up from Dh2.03); Special 95 at Dh2.04 (from Dh1.92 in November); E Plus-91 at Dh1.97 (up from Dh1.85 last month). And diesel price has been fixed at Dh2.20 per litre, an increase from Dh2.11.

Fuel prices in the UAE are linked to international crude oil prices. Brent, the global benchmark, surged to above $60 a barrel for the first time in more than two years on October 28, amid enthusiasm that the Organisation of the Petroleum Exporting Countries (Opec) may extend its output deal. UAE has cut up to 10 per cent of their oil exports in the last two months in accordance with the Opec agreement, according to Energy Minister Suhail Al Mazroui.

In December last year, the Opec struck a deal to reduce output by about 1.8 million barrels a day. This was extended for another nine months in May to go on till March, 2018. – abdulbasit@theuaenews.com