Petrol and diesel prices in the UAE for January 2025 will hold steady, the country’s fuel price committee has confirmed.
From January 1, motorists will continue to pay:
Super 98 petrol: Dh2.61 per litre
Special 95 petrol: Dh2.50 per litre
E-Plus 91 petrol: Dh2.43 per litre
Diesel: Dh2.68 per litre
This 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.
The UAE has linked its fuel prices to global oil markets since deregulating them in 2015, adjusting rates monthly for transparency.
Global oil market trends
Oil prices rose on Tuesday, buoyed by data showing a third consecutive month of growth in China’s manufacturing activity in December. Brent crude climbed to $74.56 a barrel, while US West Texas Intermediate hit $71.57. However, both benchmarks are on track for their second consecutive yearly decline, with Brent falling 3.2 per cent and WTI down 0.1 per cent in 2024, amid weakened global demand.
China’s economy showed resilience, with a planned issuance of 3 trillion yuan ($411bn) in special treasury bonds for 2025 to spur growth. Yet, a subdued demand outlook has led OPEC and the International Energy Agency (IEA) to cut oil demand forecasts for 2025. OPEC+ has delayed plans to increase output until April 2025, with the IEA projecting oversupply due to rising U.S. production.
Short-term optimism came from US crude inventories, which fell by 3 million barrels last week as refiners ramped up activity during the holiday season. Still, market concerns persist over a supply-demand imbalance in 2025, alongside the impact of high US interest rates and a strong dollar on global oil demand. President-elect Donald Trump’s pro-growth policies, including regulatory easing and tax cuts, are expected to influence energy markets further.
