The Fuel Price Committee has announced fuel prices for the month of February in the UAE. According to the announcement by the Fuel Price Committee, the prices for petrol variants have been kept unchanged while the price of diesel has been slightly increased. The regular change in fuel prices affects motorists in the UAE as it makes difficult for them to maintain a fixed monthly fuel budget. The fluctuations observed in the fuel prices are attributed to the rise and fall observed in the price of Brent (Global Benchmark for Crude Oil) in the international market.
The new prices for all types of fuel are inclusive of the 5% Value Added Tax (VAT). The Value Added Tax was introduced at the start of 2018, after which, all the commercial and business activities in the UAE were made subject to 5% VAT.
New Fuel Prices in the UAE
While the petrol prices remain unchanged for February, the price of diesel has been marginally increased. Fuel prices have been fluctuating in the UAE for more than four years, which has made life difficult for motorists on a tight budget.
Given below are the fuel prices for the month of February in the UAE:
- The price of Super 98 has been kept unchanged at AED 2.24/litre.
- The price of Special 95 has been fixed at AED 2.12/litre.
- The price of diesel has been slightly increased and its new price is AED 2.40/litre.
The fuel prices were set to move with the market after the liberalization strategy for fuel prices was implemented in August 2015. Since then, any rise and fall in the price of Brent directly impacts the fuel prices in the UAE.
February’s fuel⛽ prices as per the #UAE fuel committee are out. Check them below. #InspiringEnergy
إليكم أسعار الوقود ⛽لشهر فبراير وفقاً لما ذكرته لجنة متابعة أسعار الوقود في الإمارات. #طاقة_مُلهمة pic.twitter.com/8iBHQ2dQTp
— ENOC (@enoc_official) January 29, 2020
Timeline for Fuel Price Changes from December 2019
The January prices for all types of fuel were kept unchanged by the authorities, which brought a much-needed relief to motorists on a tight budget. If we study the timeline for changes observed in the fuel prices during the last three months, the findings appear to be satisfying for motorists on a tight budget.
The price of diesel was kept unchanged for the month of December while the prices of petrol variants were increased slightly. For the month of February, the price of diesel has been slightly increased while the petrol prices have not been revised. This is the third consecutive instance when fuel prices have remained unchanged partially or completely.
How to Reduce Fuel Expense in the UAE?
Motorists on a tight budget must find ways to reduce their fuel expense to avoid financial burden caused by regular changes observed in the fuel prices. While the fuel price trends of last three months have been satisfying for motorists on a tight budget, the situation can change any month as the fuel prices in the UAE are subject to changes recorded in the global crude oil prices.
Fuel-saving practices that motorists can adopt to limit their fuel expense are given below:
- Motorists should avoid driving aggressively as it can increase the fuel consumption of a vehicle.
- Motorists should maintain their vehicles regularly as poorly maintained vehicles can consume excessive fuel.
- Using public transport frequently can help in limiting fuel expense.
- Motorists should manage small errands in one long trip to avoid frequent engine restarts that can increase fuel consumption.
How Electric Vehicles Offer a Long-term Solution to Motorists on a Tight Budget?
Fuel-saving practices can be followed to reduce fuel expense, however, these practices don’t offer a long-term solution to motorists on a tight budget. The best way motorists can get rid of their financial worries related to fluctuations observed in the fuel prices is by shifting from their combustion engine vehicles to Electric Vehicles (EVs).
Electric vehicles use electric batteries to generate power and don’t need conventional fuel at all. With the availability of the most advanced electric vehicles in various vehicle segments, people in the UAE can choose an EV of their choice according to their budget and commuting preferences.
Here is a list of some of the most impressive EVs that are available in the UAE:
- Tesla Model S, Model X, Model 3
- Chevrolet Bolt EV
- Nissan LEAF
- Renault ZOE
- Porsche Taycan
- Jaguar I-Pace
- Audi e-Tron
- Hyundai Kona
- Volkswagen e-Golf
Customers can also avail several benefits for buying EVs including Free Salik Tag, free registration renewals and availability of free charging stations. There is a complete Incentive Programme that EV buyers and owners can benefit from in the UAE. EVs are considered the future of commuting as they ensure zero emissions. The UAE government aims at increasing the sales of electric vehicles in line with their strategy to promote the use of sustainable commuting options.
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.
