VAT-boosted fuel prices mark start of the New Year

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The Ministry of Energy has announced that petrol and diesel prices will rise on 1st January 2018. Part of the increase is five per cent Value Added Tax (VAT), which will be added to most goods and services from the start of the new year.

The per litre prices for the first month of 2018 will be:

  • Super 98 up to AED 2.24 (from AED 2.15)
  • Special 95 increases to AED 2.12 (from AED 2.04)
  • Diesel will be AED 2.33 (up slightly from AED 2.20)
  • E Plus 91 goes up to AED 2.05 (another slight hike, from AED 1.97)

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De-regulation of fuel prices started in August 2015, when the UAE government began setting them against global costs. Prior to that they had been subsidised.

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