The United Arab Emirates Department of Energy announced fuel price increases since January 2018.
On Wednesday, December 27, the Department of Energy announced new gas prices in January 2018 in the UAE.
The cost of a liter of Super 98 will be 2.24 dirhams ($ 0.6) compared to 2.15 dirhams ($ 0.58) this month; Special 95 - 2.12 dirhams ($ 0.57) compared with 2.04 dirhams ($ 0.55); E Plus-91 - 2.05 dirhams ($ 0.56). The price of diesel was set at 2.33 dirhams ($ 0.63).
Fuel prices in the UAE are linked to international oil prices.
On October 28, Brent crude oil reached its highest mark in more than two years amid information that OPEC could extend its deal. The United Arab Emirates has reduced oil exports by 10 percent over the past two months in accordance with the agreement, said Energy Minister Suhail Al Mazrui on September 25.
In December 2016, the Organization of Petroleum Exporting Countries entered into an agreement to reduce oil production by about 1.8 million barrels per day. The agreement was extended for another nine months in May.
Earlier this month, it also became known that from January 1, 2018, gas prices in the UAE will rise immediately by five percent along with the introduction of VAT.
