UAE Petrol & Diesel Price Today: November 2024 Fuel Price

Current Petrol Price in UAE is AED 2.74/Ltr, Special 95 is AED 2.63/Ltr, e-Puls is AED 2.55/Ltr and Diesel is AED 2.67/Ltr.

Petroleum Prices in UAE Today

Prices w.e.f 1st-November-2024

Types Of Petrol In UAE

There are different types of petrol in the UAE, such as E Pus 91, Special 95, Super 98, and Diesel. These petrol grades are based on the octane rating. Super 95 has a high octane rating and offers exceptional performance for all petrol-driven vehicles. Super 98 has a high octane rating and is suitable for high-performance vehicles. On the other hand, Eplus 91 is used for low-compression engines, and it is used by those who operate fleet and commercial vehicles. 

In addition to regular and premium petrol, the other types of fuels in UAE include Diesel. Customers can easily find Diesel at various petrol stations in the UAE. The famous petrol stations in UAE are ENOC, EMARAT, EPPCO, and ADNOC. 

Euro Fuel Emission Standards In UAE

The current minimum emission standard in the UAE is Euro 4, which has been applied since 2018. It significantly reduced harmful pollutant emissions from on-road transport in the UAE. However, 2.47 engines still produce high nitrogen oxide (NOx) emissions and exceed the regulatory limit. 

The study focused on high-mileage fleets and found that taxis over five years old emitted up to 15 times more NOx than the type-approval limit. On the other hand, city buses showed significant improvements. The Abu Dhabi Integrated Transport Center (ITC) introduced Euro 6 emission standards for buses, which cut NOx emissions by 94% and particulate matter (PM) emissions by 86%.

Taxis older than five years contributed to over 55% of total NOx emissions from the taxi fleet despite accounting for only 17% of the vehicles. These older taxis were operating under franchise extensions awaiting renewal and were found to emit up to 15 times their type-approval limit.

Electrification offers the quickest path to reducing harmful emissions. It is suggested that Abu Dhabi enhances the electrification of public transport, government vehicles, and taxis by setting clear zero-emission vehicle targets. At the federal level, policies like a zero-emission vehicle mandate or CO2 standard for new cars would support the adoption of electric vehicles and help align individual emirates with national air quality and climate goals.

Reasons For Petrol Price Change In UAE

The reason for the petrol price change in UAE includes fluctuation in global crude oil prices, OPEC decisions, changes in supply and demand, geopolitical events, and other economic factors. Global crude oil prices change due to conflict in oil-producing regions. 

In addition, OPEC (Organization of Petroleum Exporting Countries) regulates the oil production level among countries, including the UAE. This organization cuts or increases production quotas, which affects fuel prices as well. Changes in costs related to oil transportation, refining, and distribution can also influence petrol prices.

A slowdown in the global economy can lower oil demand, and it ultimately reduces prices. Contrary to this, economic growth drives higher oil consumption, which potentially increases prices.

Historical Background Of Petrol Rate In UAE

Several policy shifts actually determine the petrol price, which also reflects global market trends and domestic economic strategies. Before August 2015, the government subsidized the petrol and 2.47 prices. However, from 1 August 2015, the UAE announced to adjust the prices monthly in line with global trends. 

Furthermore, it was made clear that prices would be based on the average global prices, with the addition of operating costs. As a result, petrol prices surged by approximately 25%. 

According to the International Energy Agency (IEA), energy subsidies account for approximately 5.6% of the UAE's GDP. The IMF reports that petroleum subsidies in the UAE amount to around $7 billion annually, forming part of a broader energy subsidy package totaling nearly $30 billion.

Furthermore, the reduction of fuel subsidies in the UAE aligns with a global trend observed in many energy-producing nations such as Angola, Indonesia, Egypt, and Gabon. The domestic fuel subsidies in these countries have been significantly reduced as national budgets face pressure from declining oil prices. For instance, reports indicate that a mid-2014 fuel subsidy cut in Egypt led to an increase of about 80% in fuel prices at the pump.

History Of Petrol Price In UAE

The highest gasoline price in UAE history was in July 2022 due to the increase in global crude oil prices in the same year. The price surged to AED 4.63 per liter, an increase of nearly 75% compared to January 2022, when the price of Super 98 was 2.65 AED per liter. 

The petrol price has increased to AED 4 per liter since the implementation of UAE's fuel price deregulation policy. 

The data from the sources revealed fuel prices in the UAE are lower than those in 117 countries. On the contrary, the prices are higher in 50 countries, including other Gulf nations. The average cost of Super 95 was AED 5.39 per liter. However, there is a difference in its price among other countries.