How UAE Determines Fuel Prices
Before 2015, the UAE government regulated fuel prices and kept them constant for long periods of time. This implied that prices did not fluctuate with market rates or production costs.
The UAE government removed fuel price controls in 2015, which meant that the prices were now set by the market and could change based on factors such as global oil prices, supply and demand, and other economic factors.
As a result of the UAE government’s removal of fuel price controls in 2015, market forces, including fluctuations in supply and demand as well as global oil prices, now determine fuel prices.
However, at the start of the COVID-19 pandemic in 2020, the UAE government made the decision to regulate fuel prices once more in order to support the affected citizens and businesses.
