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Fuel prices: UAE makes further cuts from Feb 1

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The UAE has announced further cuts in fuel prices, with diesel to be 15% cheaper from February 1.

Diesel will be AED1.37 per litre, compared to AED1.61 this month, according to state news agency WAM. Heavy industry and the transportation sector relies heavily on the fuel.

Gasoline products will also be cheaper, with Super (98 octane) priced at AED1.58, Special (95 octane) AED1.47, and E Plus (91 octane) AED1.40 per litre.

The announcement was made by the Fuel Price Follow-up Committee, chaired by Dr. Matar Hamed Al Neyadi, Under-Secretary of the Ministry of Energy.

It is the sixth consecutive month that fuel prices have fallen since the cut in government subsidies last year.

Officials in the UAE set prices monthly, tracking the open market more closely than when the subsidies were in place.

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