In the United Arab Emirates, motorists may soon face another increase in fuel costs as global oil prices continue to surge. Brent crude has surpassed $110 per barrel, while the US West Texas Intermediate (WTI) nears the $100 mark. These rising prices have been driven by escalating geopolitical tensions in the Middle East and ongoing concerns over oil transportation, exerting upward pressure on international energy markets.
The potential rise in UAE petrol prices would follow an October increase where petrol rates jumped by nearly 16% compared to September. The UAE’s monthly fuel pricing system is directly linked to international market conditions, suggesting that sustained increases in crude oil prices could influence the upcoming adjustment.
In September, the price of Super 98 petrol was Dh3.80 per litre, with Special 95 at Dh3.69, E-Plus 91 at Dh3.61, and diesel at Dh4.30 per litre. These rates had already seen a substantial rise since 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.
The ongoing situation has raised concerns among motorists about the possibility of further fuel expenses in the coming months. However, the official fuel prices for November will depend on the prevailing market conditions at the time of the monthly pricing review.
The UAE is expected to announce November’s fuel rates towards the end of October. Until this announcement is made, it remains uncertain whether petrol prices will maintain their position above Dh4 per litre or experience another increase.