UAE News Today : Business

This is what a full tank will cost

The United Arab Emirates has announced fuel prices for February 2024.

The fuel price monitoring committee increased rates up to 0.05 fils per liter.

Under the increase, Super 98 will now cost Dh2.88 per liter from February 1, up from Dh2.82 per liter in January.

Filling up with Special 95 petrol will cost Dhs2.76 per litre, down from Dhs2.71 in January, and E-Plus 91 petrol will cost Dhs2.69 per litre, down from Dhs2.64 per liter in January.

The committee has announced a drop in diesel prices: a liter cost 2.99 dirhams in February, compared to 3 dirhams last month.

Gasoline and diesel prices in the last year

Month (2023) Super 98 special 95 E-Plus
January 2.78 2.67 2.59
February 3.05 2.93 2.86
March 3.09 2.97 2.90
April 3.01 2.90 2.82
Can 3.16 3.05 2.97
June 2.95 2.84 2.76
July 3.00 2.89 2.81
August 3.14 3.02 2.95
September 3.42 3.31 3.23
October 3.44 3.33 3.26
November 3.03 2.92 2.85
January 2024 2.82 2.71 2.64

Cost of a full tank

Fuel prices to be sold at retail gas stations are approved by the UAE Ministry of Energy and are determined each month. Prices are based on the global average price of oil and its fluctuation – whether up or down – and include the operating costs of distribution companies.

The drop in fuel prices, from November 2023 to January 2024, meant a saving of 4.08 to 5.18 dirhams with a full tank, depending on the type of car and its capacity.

The average fuel tank capacity of compact cars is 51 liters, which cost Dh138.21 for the Super 95 in January 2024. Similarly, SUVs with an average fuel tank capacity of 74 liters and refueled with Super 95 gasoline cost 200.54 dirhams in January 2024. It costs 208.68 dirhams to fill an SUV with Super 98, while filling a sedan with a 51-liter tank capacity costs 143.82 dirhams.

For a diesel vehicle, whose price at the pump is 3 dirhams per litre, in January it costs 330 dirhams to refuel an SUV such as a Toyota Land Cruiser with a 110-litre tank.

News source: Gulf Business



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