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UAE petrol prices remain unchanged for 11th consecutive month; diesel down for February

Dubai - Fuel price committee announces rates.

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The UAE on Friday kept petrol prices unchanged for February but announced a decrease in diesel rates.

Also read:

UAE petrol prices for January 2021

UAE petrol prices remain unchanged for December

This is the 11th consecutive month that petrol prices have stayed unchanged despite an increase in oil prices, which traded above $50 a barrel due to increase in economic activity in the world's largest economy United States and some parts of the Europe.

According to an announcement by the UAE Fuel Price Follow-up Committee on Friday, Super 98 petrol will cost 1.91 per litre; Special 95 petrol, 1.80 per litre; and E-Plus, 1.72 a litre.

However, diesel will cost 2.01 a litre compared to Dh2.06 in January, reflecting a decrease of five fils per litre.

International oil prices also remained steady as robust economic data from Europe revived hopes to resume economic activity soon, while the spread of a new Covid-19 variant and lockdowns raised concerns about the near-term recovery in fuel demand.

West Texas Intermediate futures traded above $52 a barrel while Brent for March settlement, which expires on Friday, rose 19 cents to $55.72 on the ICE Futures Europe exchange after closing down 0.5 per cent in the previous session.

muzaffarrizvi@khaleejtimes.com

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