Ministry of Energy announces reduced fuel prices for February

The year has started on a good note for car owners in the UAE. The Ministry of Energy and Industry has announced further reduction in fuel prices for February as compared to the month of January. New pricing structure below: • Super 98: AED 1.95 per liter • Special 95: AED 1.84 per liter • Diesel: AED 2.28 Fuel  prices have fallen significantly in the UAE for the third month in a row after they dropped 12% in December and 10% in January. Main reason for this decline is fall in the global price for BRENT that currently stands at less than US$ 50 per barrel. During the summer months of 2018, this price had reached US$ 86 with some industry experts predicting it to reach near US$ 100. International economic conditions and a change in the working of the OPEC has resulted in reduced price of crude oil worldwide. Motorists in the UAE can take full advantage of reduced fuel costs and head out to long scenic drives.