Fuel

The Ministry of Energy increased fuel prices for January as global oil prices move up due to an agreement between oil producing countries to cut output from next month to stabilize oil prices.

The new per liter fuel prices for January are: Super 98-Dh1.91, up from Dh1.80 in December; Special 95-Dh1.80, up from Dh1.69; E Plus-91-Dh1.73, up from Dh1.62.

And diesel price has been fixed at Dh1.94 per liter, which will be higher than the December price of Dh1.81 per liter.

Fuel prices have gone up as global oil prices recover due to a historic deal reached between Opec (Organisation of the Petroleum Exporting Countries) and non-Opec members to reduce their output by about 1.8 million barrels per day from January 1.

The global benchmark Brent crude was trading at $56.42 per barrel, up by 0.59 per cent and US crude West Texas Intermediate was trading at $54.16, up by 0.48 per cent on Wednesday at about 2:20 PM UAE time.

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