Petrol and Diesel price in the UAE hit a record high
The Ministry of Energy has announced new petrol prices for the month in the UAE.
The prices announced on Sunday include VAT (5 per cent).
The per litre prices for February are Super 98 at Dh2.36 ; Special 95at Dh2.25; E Plus-91 at Dh2.17 . And diesel price has been fixed at Dh2.49 per litre.
Old prices: The per litre prices for the January were Super 98 at Dh2.24; Special 95 at Dh2.12; E Plus-91 at Dh2.05 . And diesel price was Dh2.33 per litre.
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UAE fuel prices are linked to international crude oil prices. Oil hit $71 a barrel on January 25 (Thursday) for the first time since 2014, supported by Opec-led supply curbs, a record-breaking run of declines in US crude inventories and a weaker US dollar.
The Organisation of the Petroleum Exporting Countries (Opec) and allies including Russia began to curb supplies in 2017. In December 2016, the Organisation of the Petroleum Exporting Countries (Opec) struck a deal to reduce output by about 1.8 million barrels a day.
This was extended for another nine months in May, 2017 to go on till March.
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