The fuel prices February 2018 in the UAE have been raised once again making it the third consecutive month to see an upsurge. Not only this, the increase takes the fuel prices to the highest point since the government introduced deregulation in August 2015. At that time, 98 Unleaded Gasoline and 95 Unleaded Gasoline were being sold at Dh2.25 and Dh 2.14 per liter respectively. Now let’s look at the fuel prices February 2018.
The rate of the 98 Unleaded gasoline has been surged by 5.3% to Dh2.36, while 95 Unleaded gasoline is priced at Dh2.25, a hike of 6.1%.
91 Unleaded Gasoline will be sold at Dh2.17 in February compared to the current price of Dh2.05; a rise of 5.85%. The diesel too has jumped to Dh2.49 from Dh2.33.
Please note all these prices also include 5% VAT.
“Drop from the current reported level of 2.90 billion barrels in November 2017 suggests that oil prices will likely be higher in 2018 than we originally expected and we now project an average Brent crude oil price of $64/bbl in 2018, compared to $56/bbl prior. Put differently, we now expect Brent crude oil prices to average $9/bbl or 17 per cent above last year in 2018,” the US bank stated in its prediction earlier this month.