UAE to announce petrol, diesel prices for December
Expect the Fuel Price Committee of the country to make an announcement on the retail petrol and diesel rates tomorrow in a bid to bring down the prices to the global level.
The gulf federal national manager is almost done already with the petrol costs announcement for the December month. Expected tomorrow, Saturday 30 November.
Due in part to ease fears of oversupply concerns due to the Israel-hezbollah conflict, a bearish sentiment exists which posit that the UAE may lower petrol prices slightly in order to come as close as possible to global nines.
November 26, Black Friday, October November saw a 3.3 and 3.8 fall respectively for Brent future and the US WTI benchmark.
After petrol prices were deregulated in UAE in 2025 and petrol prices rationed with the changes made in international prices, the prices were reviewed on the last day of the month. The UAE's Fuel Price Committee will revise the rates and make a formal announcement tomorrow as well.
BMI, a unit of Fitch Solutions, lowered its forecast on Friday for the price of Brent crude oil to $76 per barrel in 2025 compared to an earlier estimate of $78 per barrel. It explains this action with a "bearish fundamental outlook, persistent weakness in oil market sentiment and the negative price pressures we expect to build under Trump".
OPEC+, which includes the Organization of Petroleum Exporting Countries and its allied nation Russia, has moved its planned date for the next policy meeting to December 5 from December 1. It is anticipated that OPEC+ will reach a conclusion pertaining to the readjustment of oil production limits.
According to the analysts at Goldman Sachs, Iranian supply can even go down by 1 million barrels in a day within the first half of the year under review if the set level of western countries’ sanctions enforcement of crude oil output remains high.
In November, however, Super 98, Special 95, and E-Plus were all revised down to Dh2.74, Dh2.63, and Dh2.55 per litre, respectively.
|
Month |
Super 98 |
Special 95 |
E-plus 91 |
|
January 2024 |
2.82 |
2.71 |
2.64 |
|
February |
2.88 |
2.76 |
2.69 |
|
March |
3.03 |
2.92 |
2.85 |
|
April |
3.15 |
3.03 |
2.96 |
|
May |
3.34 |
3.22 |
3.15 |
|
June |
3.14 |
3.02 |
2.95 |
|
July |
2.99 |
2.88 |
2.80 |
|
August |
3.05 |
2.93 |
2.86 |
|
September |
2.90 |
2.78 |
2.71 |
|
October |
2.66 |
2.54 |
2.47 |
|
November |
2.74 |
2.63 |
2.55 |
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