Petrol prices for January2019 have been announced. Mona Al Marzooqi / The National
Petrol prices for January2019 have been announced. Mona Al Marzooqi / The National
Petrol prices for January2019 have been announced. Mona Al Marzooqi / The National
Petrol prices for January2019 have been announced. Mona Al Marzooqi / The National

UAE motorists to start 2019 with cheaper petrol prices


Ian Oxborrow
  • English
  • Arabic

There will be New Year joy for motorists in the UAE as the cost of filling up at gas stations is expected to fall in January by at least 10 per cent month-on-month.

It will be the first time in a year that the price of Special 95 has fallen below Dh2 a litre amid sharp falls in global oil prices during the past month.

Here's the breakdown:

Super 98: Dh2 a litre - a fall of 11.1 per cent month-on-month

Special 95: Dh1.89 - a fall of 12.1 per cent

Diesel: Dh2.30 - a fall of 11.9 per cent

It will be the second month running that prices have fallen significantly in the Emirates after they dropped 12 per cent in December. Fuel prices in the UAE were liberalised in August 2015, so they now move with the market.

Prices in the UAE peaked during the summer as Brent oil went on to spike at $86 a barrel in October - the highest level since November 2014. Some traders were betting it would advance to $100 as US sanctions on Iran curbed supply.

However, the US granted waivers to eight countries importing Iranian crude for a 180-day period. Before the sanctions, Opec and its allies had increased output to make up for any anticipated oil shortage due to the sanctions.

Brent plunged below $50 earlier this week, to its lowest in more than a year on concerns about the global economy and a supply glut.

Earlier this month, Opec and its allies agreed to curb output by 1.2 million bpd starting in January in a bid to clear a supply overhang and prop up prices.

Brent was at $53.34 a barrel in trading this morning, while US West Texas Intermediate (WTI) crude futures were at $45.62 a barrel.

The world’s biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced. The Brent benchmark will average $70 (Dh257) a barrel in 2019, almost a third higher than its price on Thursday, according to a Bloomberg survey of oil analysts.

Despite plans by OPEC and its allies to limit production next year to prevent a glut from forming, oil’s fortunes have increasingly been driven by moves in financial assets and concerns about the global economy.

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Read more:

Adnoc to extract more from downstream and gas in 2019

Opec to sign co-operation deal with countries outside the group in three months

Saudi Arabia endorses moderate trims to oil supply at Opec meeting

Oil producers have to contend with oversupply in 2019, IEA says

EXPATS
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The bio

Who inspires you?

I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist

How do you relax?

Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.

What is favourite book?

The Perks of Being a Wallflower - I think I've read it more than 7 times

What is your favourite Arabic film?

Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki

What is favourite English film?

Mamma Mia

Best piece of advice to someone looking for a career at Google?

If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.  

 

COMPANY%20PROFILE
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UAE SQUAD

 

Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani

Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Mohammed Al Attas

Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah

Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
The five pillars of Islam
SERIES INFO

Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series

All matches at the Zayed Cricket Stadium, Abu Dhabi

Test series

1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March

Play starts at 9.30am

T20 series

1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March

TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube

UAE currency: the story behind the money in your pockets
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates