The Fuel Price Committee has announced fuel prices for the month of December in the UAE. According to the announcement made by the Fuel Price Committee, the prices for petrol variants have been slightly increased while the price of diesel has not been revised. Fuel prices were decreased during the last three months, which provided motorists on a tight budget with some relief. The increase in the prices for the month of December is only marginal, however, it will add to the financial worries of motorists on a tight budget.
Fuel prices have been fluctuating in the UAE for more than four years, which has increased financial pressure on motorists. The unpredictability in the fuel price trends has made it extremely difficult for motorists to set a monthly fuel budget and manage other expenses with it. The new fuel prices will be inclusive of 5% Value Added Tax (VAT).
Fuel Prices for December 2019 in the UAE
The Fuel Price Committee has increased fuel prices for petrol variants while the diesel price has been kept unchanged. This is the sixth instance this year when fuel prices have been partially or completely increased. The disparity in fuel price trends of this year has made it extremely tough for motorists to manage their fuel expense. While the change in the prices for the month of December is not big by any means, it will still add to the financial worries of motorists on a tight budget.
December’s fuel ⛽ prices as per the #UAE fuel committee are out. Check them below. #InspiringEnergy
إليكم أسعار الوقود ⛽ لشهر ديسمبر وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/8CSZG473ZW
— ENOC (@enoc_official) November 28, 2019
The new fuel prices for the month of December in the UAE have been given below:
- The price of Super 98 has been increased from AED 2.20/litre to AED 2.24/litre.
- The price of Special 95 has been increased from AED 2.09/litre to AED 2.12/litre.
- The price of diesel has not been revised from its last month’s price of AED 2.38/litre.
The fuel prices were increased significantly during 2018, which made life extremely difficult for motorists on a tight budget. The year 2019 has comparatively been a better year, however the unpredictability in fuel price trends is still a worrying sign for motorists who have found it tough to set a steady monthly fuel budget.
Why Fuel Prices Increase in the UAE?
There are several factors that can play a part whenever an increase or decrease is observed in the UAE’s fuel prices. The biggest factor that directly impacts the fuel prices in the UAE is the price of Brent, which is the benchmark for Crude Oil in the UAE. The rise or fall in the price of Brent have a direct implication on the fuel prices in the UAE. Apart from the price of Brent in the international market, authorities in the UAE also take into consideration the Platts Benchmarks and transportation cost of fuel.
Platts is a global organization that is considered a reliable source for information on the latest prices of crude oil and gasoline products. The Fuel Price Committee in the UAE considers the latest Platts Benchmarks while setting new fuel prices in the UAE.
How to Reduce Your Fuel Expense in the UAE?
Fuel prices have been fluctuating in the UAE since August 2015 when the liberalization strategy for fuel prices was implemented in the UAE. After the implementation of this strategy, fuel prices in the UAE move with the market, which means the market factors now directly affect fuel prices in the UAE.
With fuel prices expected to fluctuate in the coming months as well, it is time for motorists to think about alternatives to their combustion engine vehicles that can provide them relief from financial worries caused by fluctuating fuel prices. The best alternative in this regard can be in the shape of Electric Vehicles (EVs). These vehicles are considered eco-friendly vehicles as they ensure zero emissions.
By switching from combustion engine vehicles to EVs, motorists can get a long-term relief from their financial worries as EVs eliminate the need for conventional fuel. EVs are modern-day vehicles that have been engineered to generate power from electric batteries.
The UAE government has launched an incentive programme for EV buyers and owners to boost the sales of EVs in the UAE. This initiative is part of the efforts made by the UAE government to improve the air quality of the country by reducing the emissions from combustion engine vehicles. Switching to EVs can be a great decision for motorists on a tight budget as it can help them acquire several benefits and find a long-term solution for their financial worries.
If you are planning to sell your combustion engine car to buy a fuel-efficient hybrid or EV, then don’t forget that with us, you can sell any used car in just 30 minutes while all the post-sale paperwork is handled by SellAnyCar.com’s team.
