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last mo.

UAE Sets Lower February Fuel Prices Tied to Global Oil

The monthly update reflects the country’s deregulated, market-linked pricing policy introduced in 2015.

The UAE deregulated fuel prices in 2015 and rates are now tied to those in the global oil market. Khushnum Bhandari / The National
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Overview

  • Authorities set February rates at Dh2.45 for Super 98, Dh2.33 for Special 95, Dh2.26 for E-Plus 91 and Dh2.52 for diesel, all down from January.
  • The declines track global benchmarks under the UAE’s policy that pegs domestic pump prices to international oil markets.
  • Oil posted its biggest monthly gain in years in the week ending January 30 on fears that potential US strikes on Iran could disrupt supply.
  • President Donald Trump warned Iran of a “far worse” attack unless it opens nuclear talks, while the USS Abraham Lincoln carrier strike group arrived in the Middle East.
  • Iran said any US attack would be the start of war, threatened to strike Tel Aviv and to close the Strait of Hormuz, and produces about 3.18 million barrels a day as Opec’s fourth-largest member.