According to the announcement made by UAE Ministry of Energy, the fuel prices have been reduced for the entire month of December.

Starting from 1st December, the Super 98 will be priced at Dhs1.8 per liter, this is a 5.26 percent down from the price in November which was Dhs1.90. As for the Special 95 it will now cost Dhs1.69, that is a 5.6 percent from the previous Dhs1.79, lastly the E Plus will now cost Dhs1.62, instead of the 1.72, seeing an overall 5.8 percent decline.

UAE Ministry of Energy also cut down the cost of diesel to an impressive Dhs1.81 from the Dhs1.91 back in November, representing a 5.2 percent decline.

The prices of oil are expected to rise globally mainly because the OPEC member countries are coming closer to deal that will cut the production.

There has been a 7 percent jump in Brent Crude Futures, making each barrel cost around $50, the jump happened after Khalid al-Falih, the Saudi Energy Minister made a statement about how the kingdom is prepared to take a “big hit” on the production of oil.