Will Petrol Prices Drop at the Gas Stations Next Month?

Given that fuel prices have fallen so far this month on uncertainties about a recession and reduced demand as a result of China's increasing Covid cases, drivers around the UAE may have to pay less for petrol in the coming month, January 2023.

Drivers may take a "huge sigh of relief" when the UAE fuel price committee releases rates for January next week, according to an energy expert based in the UAE.

When compared to the start of the year 2022, when Super 98, Special 95, and E-Plus 91 were priced at Dh2.65 a litre, on average, vehicle owners spent 20% more for petrol in December.

In the last week of every month, the UAE's Ministry of Energy regulates fuel prices. According to government officials, the price of fuel has been liberalized to help reduce consumption, promote long-term use of public transportation, and motivate the use of alternatives.

Another expert, citing a new report, stated that the average oil price of roughly Dhs. 356 per barrel this year is favorable for consumers and predicted that oil prices for the following year will range between Dhs 312 and Dhs 348 per barrel, or less by Dhs 18 to Dhs 25 per barrel.

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