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Fuel prices increase in UAE for December 2017

Brent surged to above $60 a barrel for the first time in more than two years last month

An Adnoc petrol station in Sharjah
Image Credit: Ahmed Ramzan/Gulf News
An Adnoc petrol station in Sharjah.

The Ministry of Energy has announced on Tuesday, November 28, new petrol prices for December in the UAE.

The per litre prices are Super 98 at Dh2.15 (up from Dh2.03); Special 95 at Dh2.04 (from Dh1.92 in November) ; E Plus-91 at Dh1.97 (up from Dh1.85 last month). And diesel price has been fixed at Dh2.20 per litre, an increase from Dh2.11. 

UAE fuel prices are linked to international crude oil prices. 

Brent, the global benchmark, surged to above $60 a barrel for the first time in more than two years on October 28, amid enthusiasm that Opec may extend its output deal. UAE has cut up to 10 per cent of their oil exports in the last two months in accordance with the Opec agreement, energy minister Suhail Al Mazroui said on September 25.

In December last year, the Organisation of the Petroleum Exporting Countries (Opec) struck a deal to reduce output by about 1.8 million barrels a day.

This was extended for another nine months in May to go on till March, 2018.

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