Fuel prices in the UAE change every month—you already know that. But do you know what the fuel trends in UAE were for the year 2024? Let’s find out as we dive into UAE’s fuel course all over 2024.
Current Fuel Prices
Below are the current fuel prices in the UAE for December:
Now, at the end of the year, you might be wondering, “How much did I spend on fuel this year?” “What were the fuel prices like this year? Affordable or expensive?” You’ll be able to answer those questions soon if you read on till the end. Before that, let’s study some crucial aspects:
Different Types of Fuel
In case you don’t know what E-Plus 91, Special 95, and Super 98 mean, we’ll break that down for you:
E-Plus 91
E-Plus 91 is a basic type of petrol with an octane rating of 91. It’s cost-effective and used for smaller and older vehicles that do not need extra power or efficiency. Think of it like a plain black coffee—simple but gets the job done.
Special 95
Special 95 is the regular fuel used chiefly. It has an octane rating of 95-octane and is good if you don’t want cheap fuel. Special 95 is like a regular latte—not too fancy but just right for some people. It’s mainly used in sedans and SUVs.
Super 98
Super 98 is a premium fuel often called hi-octane, as it has a higher octane rating of 98. This fuel improves the performance and efficiency of your vehicle since it burns completely. Super 98 is like a premium coffee for your car—expensive but ideal for high performance.
Diesel
Diesel is a different type of fuel from petrol. It is used in diesel engines. Diesel is famous for its efficiency and high torque production. That is why it is used in heavy-duty vehicles, trucks, and sometimes SUVs.
Factors Affecting Fuel Prices
Whenever the fuel prices go up or down, this movement is based on some aspects. Let’s study those aspects as well:
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Global Oil Prices
The UAE imports or produces crude oil, which is the raw material for fuel. The price of crude oil is decided in international markets based on demand (how much people need) and supply (how much is available).
Example: If there’s a significant demand for oil (like in winter for heating) or a shortage (due to war or less production), global prices go up. That affects fuel prices in the UAE.
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Production Costs
Refining is required to turn crude oil into fuel (such as petrol and diesel). The cost of this process depends on factors like energy prices and technology.
Example: If it becomes more expensive to refine oil, the fuel price increases.
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Exchange Rates
The UAE buys crude oil or other materials from international markets, often in US dollars. A change in the currency exchange rate can affect costs.
Example: If the UAE dirham weakens compared to the dollar, fuel may become pricier.
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Government Policies
In the UAE, the government regulates fuel prices to ensure they reflect global trends. However, they might adjust prices to keep them affordable for residents.
Example: Sometimes, the government absorbs extra costs to keep prices steady for consumers.
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Seasonal Demand
Fuel demand changes with the seasons. In summer, more people travel by car, increasing fuel demand, which can push prices up.
Example: Think of how ice cream prices rise in the summer because everyone wants it. Fuel works similarly.
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Supply Chain Disruptions
Any disruptions in the supply of oil—like natural disasters, strikes, or political issues—can affect the amount of oil available and drive prices up.
Example: If a storm hits an oil-producing country, supply might drop, and fuel prices may rise.
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Taxes and Subsidies
Although the UAE keeps fuel prices competitive, some countries add taxes or subsidies. While not a direct factor in the UAE, these policies influence global fuel price trends.
Example: In countries with higher fuel taxes, prices are naturally higher, which can impact global demand.
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Renewable Energy Trends
The shift to renewable energy (like solar and electric cars) affects global fuel demand. As more people use alternatives to fuel, prices may stabilize or drop in the long run.
In Simpler Terms
Think of fuel prices like the price of fruits at a market:
- If there’s bad weather where the fruits grow (supply issue), prices rise.
- If more people want apples at the same time (demand), prices also go up.
- If shipping costs to bring the apples to your city increase, the final price will reflect that, too.
In the UAE, these factors combine with government monitoring to ensure prices are fair and competitive, even with global changes.
Fuel Trends in the UAE Throughout 2024
Here’s the part for which you have all been waiting for:
| Month | E-Plus 91/liter | Special 95/liter | Super 98/liter | Diesel/liter |
| January | AED 2.64 | AED 2.71 | AED 2.82 | AED 3.00 |
| February | AED 2.69 | AED 2.76 | AED 2.88 | AED 2.99 |
| March | AED 2.85 | AED 2.92 | AED 3.03 | AED 3.16 |
| April | AED 2.96 | AED 3.03 | AED 3.15 | AED 3.09 |
| May | AED 3.15 | AED 3.22 | AED 3.34 | AED 3.07 |
| June | AED 2.95 | AED 3.02 | AED 3.14 | AED 2.88 |
| July | AED 2.80 | AED 2.88 | AED 2.99 | AED 2.89 |
| August | AED 2.86 | AED 2.93 | AED 3.05 | AED 2.95 |
| September | AED 2.71 | AED 2.78 | AED 2.90 | AED 2.78 |
| October | AED 2.47 | AED 2.54 | AED 2.66 | AED 2.60 |
| November | AED 2.55 | AED 2.63 | AED 2.74 | AED 2.67 |
| December | AED 2.43 | AED 2.50 | AED 2.61 | AED 2.68 |
Fluctuation Graph
We have created a graph to help you better understand the fluctuation of fuel prices in the UAE in 2024.
Thank you for reading till the end. We hope you have all the answers you were looking for. If you want any more information, do leave a comment. Whenever you want to buy or sell a car online, kindly visit www.arabwheels.ae