The Ministry of Energy and Industry has reduced UAE fuel prices for November 2019 by three to four fils (1.2% to 1.7%)
Here is a list of prices for November 2019 compared to October 2019:
- Super 98: Dh2.20 – a decrease of four fils or 1.7%
- Special 95: Dh2.09 – a reduction of 3 fils or 1.4%
- Diesel: Dh2.38 – a drop of 3 fils or 1.2%
The fuel prices have been declining from the last two months. October witnessed a drop of 2% while September brought a respite of 4% reduction in costs.
November’s fuel ⛽ prices as per the #UAE fuel committee are out. Check them below. #InspiringEnergy
إليكم أسعار الوقود ⛽ لشهر نوفمبر وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/MtJhCf70L8
— ENOC (@enoc_official) October 29, 2019
As stated earlier, “The fuel prices were deregulated in August 2015. Talking about the rates in 2019, they were dropped at the start of this year and then steadily increased until July, when we saw a 10% drop. In August this year, prices were enhanced by 3% and then dipped by 4% in September.” If we compare the price of Special 95 with the August 2015 price, we find it lower than that.
While we see a cut in UAE fuel prices for November 2019, motorists have to take the burden of a new toll tax in Abu Dhabi. For the time being, the authorities are lenient on it.
Talking about the reasons behind this fall of prices in the international market, recently, we saw an increase in U.S. crude inventories. Brent went down by 54 cents and 45 cents in the last two days while the West Texas Intermediate crude saw a decline of 42 cents.
December will decide the faith of further price reduction or rise in it, as Opec members meet in Vienna.
Source: TheNational.Ae