Drivers in the United Arab Emirates may experience another hike in fuel prices in November, as global crude oil costs continue to escalate. The price of Brent crude has surged past $110 per barrel, while the US West Texas Intermediate (WTI) is nearing $100. These increases are driven by rising geopolitical tensions in the Middle East and concerns over oil transportation, exerting upward pressure on international energy markets.
The UAE’s monthly fuel pricing system, which mirrors international market trends, saw significant increases in October. Petrol prices rose by nearly 16% from September, reflecting the effects of sustained crude oil price hikes. In September, the cost of Super 98 petrol was Dh3.80 per litre, Special 95 was Dh3.69, E-Plus 91 was Dh3.61, and diesel was Dh4.30 per litre. These figures marked a substantial rise from February, when Super 98 was priced at Dh2.59, Special 95 at Dh2.48, E-Plus 91 at Dh2.40, and diesel at Dh2.72 per litre.
Fuel prices in the UAE are reviewed monthly, and the upcoming November rates are anticipated to be announced towards the end of October. Until the official announcement, it remains uncertain if the prices will remain above Dh4 per litre or if they will increase further.
These developments have caused concern among motorists, who may face higher fuel expenses in the coming month. However, the final rates will ultimately depend on the prevailing market conditions at the time of the pricing review.