Fuel prices to remain unchanged in UAE in January

Petrol and diesel prices are closely tied to movements in the global oil market

An Enoc petrol station in Dubai. Fuel prices in the UAE will remain unchanged in January, reflecting global oil market trends. Pawan Singh / The National

Petrol and diesel prices in the Emirates will remain unchanged in January, reflecting trends in the global oil market, state news agency Wam reported on Tuesday, quoting the UAE fuel price committee.

This year, the UAE has lowered petrol prices seven times and raised them five times.

How much will fuel cost in January 2025?

The breakdown of fuel prices per litre for January is as follows:

• Super 98: Dh2.61 per litre
• Special 95: Dh2.50 per litre
• Diesel: Dh2.68 per litre
• E-Plus 91: Dh2.43 per litre

The UAE liberalised fuel prices in 2015 to allow them to move in line with the market.

Brent, the benchmark for two-thirds of the world’s oil, has gained nearly 4 per cent this month amid rising optimism about Chinese economic growth next year and geopolitical flare-ups in the Middle East and Europe causing fears of supply disruptions.

Last week, the World Bank raised its forecast for Chinese economic growth this year and next, citing recent policy easing and near-term export strength.

China, the world’s second-largest economy and top crude importer, has announced a series of stimulus measures over the past few months to address an economic slowdown caused mainly by a property market downturn and weak consumer spending.

Both Opec and the International Energy Agency have lowered their oil demand forecasts for 2025 due to a weaker economic outlook in China.

Oil markets are expected to be well-supplied in 2025, with the Opec+ alliance likely to restore some output and production projected to increase from non-Opec+ countries, such as the US and Canada.