UAE: Residents welcome petrol price drop as 'perfect New Year's gift'

The fuel rates for next month are the lowest it has dipped to since January 2022

Nasreen Abdulla

Published: Fri 30 Dec 2022, 11:15 PM

Last updated: Fri 30 Dec 2022, 11:21 PM

UAE residents have joyously welcomed the significant drop in petrol prices for January 2023, with many calling it the “perfect New Year’s gift”. Prices announced on December 30th marked a drop of more that 50 fils for petrol and a 45 fils reduction for diesel.

The price of Super 98 petrol dropped 52 fils from Dh3.30 to Dh2.78. The cost of Special 95 fell from Dh3.18 to Dh2.67. The prices of E-Plus 91 dropped 52 fils from Dh3.11 to Dh2.59. Diesel prices fell from Dh3.74 to Dh3.29 marking a 45 fils drop.

Indian expat Arijit Nandi, who drives daily to Abu Dhabi expressed his happiness. “It is a big relief and is the perfect New Year’s gift especially for those who drive between Dubai and Abu Dhabi every day,” he said. “It is a welcome move.”

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This is the cheapest price of petrol since January 2022, when the price for Super 98 petrol was Dh2.65, Special 95 petrol was priced at Dh2.53 and the cost of E-plus petrol was Dh2.46.

Dubai-resident Mohammed said he was at the petrol station when prices were announced and he saw several cars drive away when the notifications came. There were similar scenes in other emirates as well.

"I had enough petrol to drive for another 15 kilometers and I was in the queue to refill my tank when I received the notification from Khaeej Times about the January petrol price,” said Ateeq Ahmed who was at Adnoc station in Al Nahda, Sharjah.

“So I decided to fill just Dh50 worth of fuel.”

The UAE deregulated retail fuel prices in August 2015 and since then, the committee announces revised rates every month. After peaking in July 2022 when retail fuel prices reached an all-time high in the UAE, the rates were reduced in August, September and October.

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