Motorists in the United Arab Emirates could face increased fuel costs in November as global crude oil prices continue to rise. The surge in oil prices is primarily due to escalating geopolitical tensions in the Middle East and concerns over transportation routes, which have pushed Brent crude above $110 per barrel and US West Texas Intermediate close to $100.
The potential hike follows a noticeable increase in UAE fuel prices in October, when petrol rates jumped by nearly 16% compared to September. This rise is part of the UAE’s monthly fuel pricing system, which aligns with international market conditions. If the current trend in crude oil prices persists, it may influence the upcoming adjustment of fuel prices.
In October, the prices for Super 98 petrol stood 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. These rates marked a significant increase from February’s prices, where Super 98 was Dh2.59, Special 95 Dh2.48, E-Plus 91 Dh2.40, and diesel Dh2.72 per litre.
The rising oil costs have raised concerns about potential additional expenses for consumers at the pump. However, the exact fuel prices for November will depend on the relevant market conditions assessed during the UAE’s monthly pricing review. The official announcement of the November fuel rates is expected towards the end of October.
As motorists wait for the official pricing update, there remains uncertainty about whether petrol prices will exceed Dh4 per litre or remain stable. The situation highlights the broader impact of global energy market fluctuations on local economies and consumer expenses.