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Today's Fuel Price Update For March 2024 In The UAE Brings You The Current Prices For Both Petrol And Diesel
Key Highlights
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Transition from subsidized to liberalized fuel prices in the UAE in 2015.
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Implementation of a system aligned with global oil prices.
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Establishment of the Fuel Price Committee to regulate fuel prices.
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Increased flexibility in adjusting fuel prices based on international market trends.
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Anticipation of ongoing changes in fuel prices in the UAE.
In March 2024, petrol prices in the UAE are set at AED 2.85 for EPlus 91, AED 2.92 for Special 95, and AED 3.03 for Super 98. Meanwhile, the price of diesel stands at AED 3.16 per liter. These rates, effective from March 1, 2024, are anticipated to persist until the month's end. Fuel prices in the UAE typically undergo monthly revisions, with new prices expected to be announced in April 2024.
Today's Petrol Prices In The UAE
- EPlus 91 Price: AED 2.85
- Special 95 Price: AED 2.92
- Super 98 Price: AED 3.03
- Diesel Price: AED 3.16
- All Prices mentioned above are per liter
Changes In Petrol And Diesel Prices In The UAE
In February 2024, petrol prices increased by AED 0.05 while diesel prices dropped by AED 0.01.
March 2024 sees a further increase in petrol prices by AED 0.16, while diesel prices have dropped by AED 0.17.
This marks the second consecutive month of petrol price increases and the first increase in diesel prices since October 2023 in the UAE.
UAE Petrol And Diesel Price Trends Over the Past Six Months
| Month | EPlus 91 Price (Per Litre) | Special 95 Price (Per Litre) | Super 98 Price (Per Litre) | Diesel Price (Per Litre) |
|---|---|---|---|---|
| October '23 | AED 3.26 | AED 3.33 | AED 3.44 | AED 3.57 |
| November '23 | AED 2.85 | AED 2.92 | AED 3.03 | AED 3.42 |
| December '23 | AED 2.77 | AED 2.85 | AED 2.96 | AED 3.19 |
| January '24 | AED 2.64 | AED 2.71 | AED 2.82 | AED 3.00 |
| February '24 | AED 2.69 | AED 2.76 | AED 2.88 | AED 2.99 |
| March '24 | AED 2.85 | AED 2.92 | AED 3.03 | AED 3.16 |
Cost Of Fuel Refills In The UAE
The cost of filling up a car's fuel tank has risen compared to the previous month, resulting in an increase of between AED 4.50 and AED 35 for a full tank, depending on the tank size. This increase in fuel prices will lead to a notable rise in per-kilometer running costs.
Petrol Price Standardisation In The UAE
Before 2015, the government heavily subsidized fuel prices in the UAE, maintaining stability despite fluctuations in global oil prices. However, in September 2015, the government adopted a liberalized approach, linking fuel prices to international oil prices. The Fuel Price Committee now determines fuel prices in the UAE, and further adjustments are anticipated in the coming months.
Verdict
UAE transitioned from heavily subsidized fuel prices to a liberalized system linked to global oil prices in 2015. The Fuel Price Committee now regulates fuel prices, allowing for more dynamic adjustments in response to international market trends. As such, motorists can expect continued changes in fuel prices in the UAE in the foreseeable future.
Also Read: Feb 2024 Fuel Prices in UAE: Petrol Rises by AED 0.06 & Falls by AED 0.01
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