The United Arab Emirates is a country that is known for its fast-paced lifestyle and ever-changing fuel prices. In December 2022, it’s important to stay up to date on what the current fuel prices are with the budget properly. Let’s take a closer look at the UAE fuel prices for that month, so you can be prepared.
The United Arab Emirates (UAE) follows a fuel pricing system set by the Ministry of Energy based on global market prices. Let’s take a look at what consumers in the UAE can expect to pay this month.
How Fuel Prices Are Determined in the UAE
To understand why fuel prices, fluctuate in the UAE, one must first understand how they are determined. In general, fuel prices are set by taking into account three major components: production costs (including transportation and storage of crude oil), taxes, and subsidies. The cost of production includes all costs associated with obtaining crude oil, such as extraction fees, refining fees, transport fees, etc., while taxes include local government levies on fuels such as Value Added Tax (VAT) and other applicable fees. Finally, subsidies refer to any financial assistance provided by the government to reduce consumer costs.
The Price of Super 98 Fuel
Super 98 fuel is one of the most popular fuels used in the United Arab Emirates and it is also one of the most expensive types of fuels. According to reports, Super 98 fuel will cost around AED 1.75 per liter in December 2022. This is a decrease from previous months and it is due to an increase in production levels across the region.
The Price of Special 95 Fuel
Special 95 fuel is another type of fuel used in the UAE and it usually costs less than Super 98 fuel due to its lower octane rating. In December 2022, Special 95 fuel will likely cost around AED 1.60 per liter, which is slightly more expensive than last year. However, this price can be expected to fluctuate regularly as the production levels change over time.
The Price of Diesel Fuel
Diesel fuel is often used by commercial vehicles and construction equipment because it has a higher-octane rating than other types of fuels. In December 2022, diesel fuel will likely cost around AED 2 per liter, which is slightly cheaper than last year’s price due to increased production levels across the region.
Conclusion
It is always important for UAE citizens and businesses alike to stay informed about local fuel prices so they can make sound decisions concerning their budgeting and energy needs. With this in mind, December 2022 looks like it will be a relatively calm month when it comes to petroleum product pricing across the country; however, consumers should remain vigilant so they can quickly adjust if any unexpected changes arise from external forces over this month.
By staying informed on both local and global news related to petroleum products pricing throughout December 2022, Emiratis can ensure that their budgets are still intact at year’s end!
