December 2024 saw Brent crude oil average about $73.06 per barrel, a little drop from $73.2 in November. Still, variations over the last trading days of the year could affect the final change.

The UAE has matched monthly fuel prices with worldwide market trends since deregulating petrol prices in 2015, therefore adjusting them on the last day of every month, The lowest rates recorded in 2024 were Super 98, Special 95, and E-Plus 91 rates, which dropped by roughly Dh0.13 per liter and resulted in prices of Dh2.61, Dh2.50, and Dh2.43 per liter respectively.

With West Texas Intermediate (WTI) trading at $70.65 per barrel and Brent crude at $74 per barrel as of Monday, oil prices have been rather steady globally, Analysts believe crude oil is concluding the year in a bearish zone, waiting for China 's economy to recover and changes to the global oil supply glut—which is expected to average about 1 million barrels daily in 2025.

Senior analyst of Swissquote Bank Ipek Ozkardeskaya said that crude oil stays in a bearish consolidation zone, Recovery depends on a comeback in China's economic situation and a decrease in world oversupply. Maria Agustina Patti, a financial markets strategist, pointed out that any notable positive momentum could be slowed down by predictions of plentiful oil supply in 2025 combined with China's declining consumption.

Senior industry analyst Samer Hasn of xs.com voiced wary optimism on rising crude demand from China in 2025. He underlined recent assistance initiatives including a historic $3 trillion Treasury bond issue and financial packages meant to restructure China's social system, A major weakness in the Chinese economy, consumer expenditure might be raised by these projects.

Still, possible trade conflicts between China and the United States could throw off this comeback. As Donald Trump has warned, revived trade disputes might worsen losses in crude markets should he make a comeback to the White House in January 2025, Analysts think that the main determinant of oil prices in the next year will be this geopolitical ambiguity.

Global trends and regional economic considerations will be quite important in deciding the final changes as the UAE's gasoline pricing committee gets ready to publish January rates, With demand recovery expected in China and continuous market uncertainty, 2025 could offer both possibilities and difficulties for the worldwide oil and fuel industries.

The UAE's proactive monthly petrol price revision strategy keeps it in line with foreign markets, therefore giving consumers openness and stability while adjusting to changing global dynamics.

UAE: January 2025 Petrol Prices Likely to See Slight Decrease

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