The International Energy Agency's (IEA) projection of an over-supply of 1.4 million barrels per day this year is a critical factor that could keep oil prices subdued, bringing in prolonged relief from fuel-induced inflation in the coming months.
For the UAE, which has linked its fuel prices to global oil markets since 2015, adjusting rates monthly for transparency, the oversupply of 1.4 million barrels per day is a critical factor that could keep oil prices subdued, keeping consumer price inflation under check,
For motorists in the UAE, this means lower costs at the pump. Reduced fuel prices can lead to increased disposable income for households, allowing them to allocate their resources towards other sectors of the economy. Businesses, particularly those in transportation and logistics, will also benefit from decreased operational costs, enhancing their competitiveness in both local and international markets.
Petrol and diesel prices in the UAE remained unchanged in January 2025 compared to December 2024: Super 98 petrol is priced at Dh2.61 per litre, Special 95 petrol at Dh2.50 per litre, E-Plus 91 petrol at Dh2.43 per litre and diesel at Dh2.68 per litre. The price stability follows months of declining fuel prices in 2024, with Super 98 petrol dropping from a high of Dh3.34 in May to the current rate of Dh2.61.
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