Motorists in the United Arab Emirates may face another increase in petrol and diesel prices in November, as global crude oil costs continue to climb. This potential hike is linked to a rise in Brent crude prices, which have exceeded $110 per barrel, and the US West Texas Intermediate (WTI) nearing $100. Geopolitical tensions in the Middle East and concerns over oil transportation are adding pressure to international energy markets.
In October, UAE fuel prices saw a significant increase, with petrol rates climbing nearly 16% compared to September. The UAE’s monthly fuel pricing system, which reflects international market conditions, suggests that sustained increases in crude oil prices could influence the next adjustment. As of September, fuel prices were notably higher than earlier in the year, with Super 98 petrol at Dh3.80 per litre, Special 95 at Dh3.69, and E-Plus 91 at Dh3.61. Diesel was priced at Dh4.30 per litre, all of which had surged from February’s rates.
The rising costs have raised concerns among motorists about potential additional expenses in the coming month. However, the official fuel rates for November will depend on market conditions at the time of the monthly pricing review. Until the announcement, it is uncertain whether petrol prices will remain above Dh4 per litre or increase further.
The UAE government is expected to announce November’s fuel rates towards the end of October, which will provide clarity on the impact of ongoing global oil price fluctuations on local fuel costs. Motorists and businesses alike are watching closely, as fuel prices remain a critical factor in budgeting and planning.