The government of the United Arab Emirates announced an increase in gas prices in February 2018.
The UAE Department of Energy announced new gas prices in February 2018. The announced prices already include VAT (5%).
The cost of a liter of Super 98 in February is 2.36 dirhams ($ 0.64); Special 95 - 2.25 dirhams ($ 0.61); E Plus-91 - 2.17 AED ($ 0.59). The price of diesel was set at 2.49 dirhams ($ 0.67).
Fuel prices in the UAE depend on international crude oil prices. Oil reached $ 71 per barrel on January 25 (Thursday) for the first time since 2014, with support from the OPEC agreement, a record decline in US crude oil inventories and a weakening US dollar.
The Organization of Petroleum Exporting Countries (OPEC) and stakeholders, including Russia, began to curb supplies in 2017. The agreement to reduce production will last until March 2018.
