Fuel prices for the month of February 2019 have been announced in the UAE. The Ministry of Energy announced new fuel prices on January 30, 2019 and according to the announcement, fuel prices have been decreased in the UAE for the fourth consecutive month. This is a great development for motorists on a tight budget as it will help them in planning and managing their fuel expense effectively.
The decrease in fuel prices for the month of February is not massive by any means but it is still a welcome change, considering fuel prices have been decreasing since November 2018. According to the announcement made by the Ministry of Energy, prices for all types of fuel have been decreased in the UAE.
Fuel Prices for February in the UAE
The year 2019 started with a substantial decrease observed in fuel prices, much to the delight of motorists on a tight budget. Fuel prices have been decreased once again, thanks to a significant drop observed in the price of Brent (the global benchmark for crude oil) in the international markets.
Here are the new fuel prices by fuel-type in the UAE:
- The price of Super 98 has been decreased by 5 fils/litre and the new price of Super 98 is AED 1.95/litre.
- The price of Super 95 has also been decreased by 5 fils/litre and the new price of Special 95 is AED 1.84/litre.
- The price of diesel has been decreased by 2 fils/litre only and the new price for diesel is AED 2.28/litre.
Motorists of UAE, here are the fuel prices for the month of February 2019 as announced by the #UAE Fuel Price Committee ⛽ pic.twitter.com/FReemldrNb
— ENOC (@enoc_official) January 30, 2019
All fuel prices are inclusive of Value Added Tax (VAT) that has been applicable on all business and commercial activities in the UAE since January 1, 2018. Fuel prices were increased for three consecutive months from August to October in 2018, which increased financial worries of motorists on a tight budget. Petrol prices for February are the lowest in the last 17 months while diesel price is the lowest since December 2017. It is a positive development that will help motorists on a tight budget in managing their monthly fuel expense efficiently.
The Reason behind Decrease in Fuel Prices
Fuel prices in the UAE are directly linked with the price of Brent in the international market. The price of Brent has been decreasing consistently since November 2018, which has impacted fuel prices in a positive way for motorists on a tight budget in the UAE. Brent was trading at $61.28 per barrel on January 30, 2019, which resulted in a marginal decrease observed in the fuel prices for February in the UAE.
Future Fuel Price Trends in the UAE
The Government of the UAE removed subsidies and deregulated fuel prices in August 2015. Since then, fuel prices have been based on global crude oil prices, which has resulted in regular fluctuations observed in fuel prices. Since crude oil prices have been decreasing during the last few months, fuel prices in the UAE have also been decreasing. However, the global crude oil prices are expected to stabilize in the coming months, which will potentially cause an increase in the UAE’s fuel prices.
Also read: An Introspective Analysis of Fuel Price Trends in the UAE during the First Half of 2018
Essential Fuel-Saving Tips for Motorists
As fuel prices are expected to increase in the coming months, it is important for motorists to adopt fuel-saving practices that can help them maintain a steady fuel budget, regardless of the fluctuations observed in fuel prices.
Here are some important fuel-saving tips for motorists on a tight budget in the UAE:
- Avoid aggressive driving as it can increase fuel consumption of a vehicle.
- Maintain a vehicle regularly according to the instructions mentioned in the car owner’s manual as it can help in improving the fuel economy of a vehicle.
- Avoid frequent road trips and use public transport whenever possible.
While these tips can be useful to keep fuel expense in check, motorists on a tight budget can also consider switching from their combustion engine vehicles to Electric Vehicles (EVs). This can be a long-term solution for financial worries of motorists on a tight budget as EVs don’t need conventional fuel at all. EVs are environment-friendly vehicles that use electric batteries to generate power and ensure zero emissions.
Also read: Top 5 Reasons to Buy an Electric Vehicle in the UAE
The Government of the UAE is also offering several incentives and benefits to people for buying EVs as part of their efforts to improve the air quality of the UAE. From free charging stations to special discount offers on purchasing EVs, the buyers and owners of electric vehicles can avail many benefits in the UAE.
For details of all the benefits and incentives offered to EV owners and buyers in the UAE, read our blog titled, New Incentive Program Encourages the Buying of Electric Vehicles in the UAE.
If you are planning to sell your combustion engine car to buy a fuel-efficient hybrid or EV, then don’t forget that with us, you can sell any used car in just 30 minutes while all the post-sale paperwork is handled by SellAnyCar.com’s team.
