Motorists in the United Arab Emirates are bracing for a potential rise in petrol and diesel prices in November, as global crude oil costs continue to surge. Brent crude has climbed above $110 per barrel, and US West Texas Intermediate (WTI) is nearing $100. These increases are attributed to escalating geopolitical tensions in the Middle East and growing concerns over oil transportation, which are exerting upward pressure on international energy markets.
The possibility of a price hike follows an October increase where UAE petrol rates jumped nearly 16% compared to September figures. The UAE’s monthly fuel pricing system is reflective of international market conditions, indicating that continued spikes in crude oil prices could influence the next adjustment.
In September, fuel prices in the UAE were set at Dh3.80 per litre for Super 98 petrol, Dh3.69 for Special 95, and Dh3.61 for E-Plus 91. Diesel was priced at Dh4.30 per litre. These rates represented a significant increase from February, when Super 98 was Dh2.59, Special 95 was Dh2.48, E-Plus 91 was Dh2.40, and diesel was Dh2.72 per litre.
Given the current trajectory of oil prices, there is a concern among UAE motorists about facing additional fuel expenses in the coming month. However, the official prices for November will depend on the prevailing market conditions assessed during the monthly pricing review.
The UAE’s fuel rates for November are expected to be announced towards the end of October. Until then, it remains uncertain whether petrol prices will maintain their position above Dh4 per litre or if they will increase further.
