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 that 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 comprehend the fluctuations in fuel prices in the UAE, it is crucial to grasp the factors that contribute to their determination. Generally, fuel prices are established by considering three key elements: production costs (including the transportation and storage of crude oil), taxes, and subsidies. Production costs encompass all expenses associated with acquiring crude oil, such as extraction fees, refining fees, and transportation fees. Taxes involve the local government's levies on fuels, including Value Added Tax (VAT) and other applicable charges. Subsidies, on the other hand, pertain to any financial aid provided by the government to alleviate consumer costs.
The Price of Super 98 Fuel
Super 98 fuel holds its reign as one of the most sought-after and priciest fuel choices in the United Arab Emirates. As anticipated, reports indicate that in December 2022, Super 98 fuel will be priced at approximately AED 1.75 per litre. This comes as a welcome decrease from previous months, thanks to a notable surge in production levels throughout 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 litre, 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 fuel. In December 2022, diesel fuel will likely cost around AED 2 per litre, 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 local and global news related to petroleum product pricing throughout December 2022, Emiratis can ensure that their budgets are still intact at year’s end!
