Motorists in the United Arab Emirates could see an increase in petrol and diesel prices in November as global oil prices continue to rise. The price of Brent crude has climbed above $110 per barrel, while US West Texas Intermediate (WTI) is nearing $100. These increases are influenced by heightened geopolitical tensions in the Middle East and ongoing concerns about oil transportation, putting upward pressure on international energy markets.
This potential hike follows a significant rise in UAE fuel prices in October, where petrol rates jumped by nearly 16% compared to September. The UAE’s monthly fuel pricing system, which reflects international market conditions, means that sustained increases in crude oil prices could impact the next price adjustment.
In September, the cost of Super 98 petrol was Dh3.80 per litre, Special 95 was priced at Dh3.69, and E-Plus 91 at Dh3.61. Diesel was Dh4.30 per litre. These prices were already considerably higher than those in February, when Super 98 was Dh2.59, Special 95 Dh2.48, E-Plus 91 Dh2.40, and diesel Dh2.72 per litre.
Concerns are mounting among motorists that they might face additional fuel expenses next month. However, the official petrol prices for November will depend on the prevailing market conditions at the time of the monthly pricing review.
The UAE is expected to announce its fuel rates for November towards the end of October. Until the official announcement, it remains uncertain whether petrol prices will stay above Dh4 per litre or increase further.