UAE petrol prices for February 2025: Will rates increase?
The UAE will adjust its petrol prices in February 2025 following global oil price increases that passed $81 per barrel in January.
Oil prices increased in January because of uncertainty regarding US President Donald Trump's tariff policy and the impact of US sanctions on Russian crude exports.
International factors may result in increased petrol prices in the UAE when February begins. Brent oil averaged $77.55 per barrel during January which was higher than the December 2024 average of $73 per barrel.
The cost per litre for Super 98 stood at Dh2.61 during January 2025 while Special 95 and E-Plus were sold at Dh2.50 and Dh2.43 respectively and diesel reached Dh2.68 per litre in the UAE.
Petrol prices remained unchanged from December 2024 through January 2025 and reached their lowest level in thirteen months.
After the UAE deregulated petrol prices in 2015 the government announced retail petrol rates for the upcoming month at month-end to match global rates.
In the middle of Wednesday trading hours WTI stood at $73.99 a barrel which represented a 0.3 per cent rise and Brent reached $77.62 a barrel which was a 0.17 percent increase.
Century Financial chief investment officer Vijay Valecha reported that Brent prices exceeded $81 a barrel reaching a peak unseen for four months due to the expected impact of wider US sanctions on Russian crude exports to major buyers China and India.
Both Brent and WTI oil contracts increased by above 6 per cent since January 8 while they experienced a surge after the US Treasury announced more extensive sanctions on Russian oil on Friday. The United States imposed new sanctions that targeted producers Gazprom Neft and Surgutneftegas and 183 Russian oil shipping vessels to hinder Moscow's war funding through oil revenue.
New sanctions will heavily damage Russian oil exports and push China and India to increase their oil purchases from the Middle East, Africa, and the Americas which will drive prices and shipping costs higher according to traders and analysts.
The outgoing administration's new Russian sanctions increase at-risk supply which creates additional uncertainty for the first quarter outlook according to RBC Capital analysts.
|
Month |
Super 98 |
Special 95 |
E-plus 91 |
|
January 2024 |
2.82 |
2.71 |
2.64 |
|
February 2024 |
2.88 |
2.76 |
2.69 |
|
March 2024 |
3.03 |
2.92 |
2.85 |
|
April 2024 |
3.15 |
3.03 |
2.96 |
|
May 2024 |
3.34 |
3.22 |
3.15 |
|
June 2024 |
3.14 |
3.02 |
2.95 |
|
July 2024 |
2.99 |
2.88 |
2.80 |
|
August 2024 |
3.05 |
2.93 |
2.86 |
|
September 2024 |
2.90 |
2.78 |
2.71 |
|
October 2024 |
2.66 |
2.54 |
2.47 |
|
November 2024 |
2.74 |
2.63 |
2.55 |
|
December 2024 |
2.61 |
2.50 |
2.43 |
|
January 2025 |
2.61 |
2.50 |
2.43 |
Comments