Motorists in the United Arab Emirates are likely to see a further increase in petrol and diesel prices in November due to rising global crude oil costs and sustained high shipping expenses. Brent crude has surged past $110 per barrel, while US West Texas Intermediate (WTI) approaches $100, influenced by escalating geopolitical tensions in the Middle East and concerns over oil transportation.
This potential hike comes on the heels of a significant rise in UAE fuel prices in October, where petrol rates rose by nearly 16% from September. The UAE’s fuel pricing system adjusts monthly to reflect international market conditions, suggesting that ongoing increases in crude oil prices could impact the upcoming rate adjustment.
In September, the price of Super 98 petrol was Dh3.80 per litre, Special 95 was Dh3.69, and E-Plus 91 was Dh3.61, while diesel was priced at Dh4.30 per litre. These rates had already seen a substantial rise since 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.
Concerns are growing among UAE motorists regarding the potential for increased fuel expenses in the coming month. However, the official fuel prices for November will depend on the market conditions evaluated during the monthly pricing review. The announcement of November’s rates is expected towards the end of October, leaving the possibility open that petrol prices could either stabilize above Dh4 per litre or climb further.