Urgent.. The UAE announces gasoline prices for the month of March

The United Arab Emirates (UAE) has made public the retail pricing of fuel for the month of March.

Beginning in the month of February, the fuel price committee decided to raise the retail prices of Super 98, Special 95, and E-Plus 91 by as much as sixteen fils per litre when compared to the previous month.

Super 98 fuel price

Super 98 fuel will cost Dhs3.03 per litre beginning March 1, 2024, which is an increase from the previous month's price of Dhs2.88 per litre. Special 95 petrol will cost Dhs2.92 per litre, which is a decrease from the previous month's price of Dhs2.76 per litre.

Price of a liter of diesel

In March, the price of a liter of diesel will be Dhs3.16, which is an increase from the previous month's price of Dhs2.99. While the price of E-plus 91 will be Dhs2.85, which is an increase from the previous month's price of Dhs2.69.

Gasoline prices in February

In February, the wholesale prices of Super 98, Special 95, and E-Plus 91 were raised by as much as six fils per litre. This rise was implemented by the gasoline price committee. The United Arab Emirates (UAE) holds monthly meetings of its gasoline price committee to determine whether or not prices will go up or down.

Since the government deregulated oil prices in August 2015 in an effort to bring them in line with global rates, the nation has been revising retail petrol prices on the last day of each month. This has been the case ever since.

As a result of a larger-than-expected build in crude stocks in the United States, which fuelled concerns about weak demand, global oil prices continued their downward trend on Thursday. Additionally, indications that interest rates in the United States could remain elevated added to the pressure.

However, according to a report by Reuters, OPEC+ is allegedly contemplating the possibility of extending the voluntary oil output cuts into the second quarter. This would be done in order to give further support for the market, and it is possible that they might continue until the end of the year.

Gasoline prices
Month Super 98 Special 95 EPlus 91 Diesel
January Dhs2.82 Dhs2.71 Dhs2.64 Dhs3.00
February Dhs2.88 Dhs2.76 Dhs2.69 Dhs2.99
March Dhs3.03 Dhs2.92 Dhs2.85 Dhs3.16

Read also: The UAE announces Petrol, diesel prices for for March 2024

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