UAE Petrol Prices To Increase In October

UAE petrol prices are about to change, with the country’s fuel price committee due to meet and set the October rate.

Prices in the country tend to fluctuate in line with global trends – and the latest announcement will follow a price rise announced for September.

The committee meets at the end of every month, so we can expect an announcement over the weekend.

And, if current global markets are anything to go by, it looks like a price rise could be on the cards in October.

That’s because Brent Crude is now going at $91 (Dhs334) a barrel, having started the month at under $84 (Dhs308).  What’s more, US West Texas Intermediate (WTI) crude is going at $88 (Dhs323) a barrel, after starting September at $80 (Dhs293).

If a rise is confirmed, it would follow a hike in September’s rates – with the current costs as follows:

• Super 98 petrol: Dhs3.42.
• Special 95 petrol: Dhs3.31.
• E-Plus 91 petrol: Dhs3.23.
• Diesel: Dhs3.40.

UAE petrol prices reached an all-time high in July 2022, with Super 98 costing Dhs4.63 per litre. Prices then fell for three consecutive months in August, September and October. Then, a November hike was followed by a further reduction in December.

Fuel prices in the country were liberalised in 2015, with local rates being aligned with global oil prices. For the past eight years, the fuel price committee has met on a monthly basis to announce revised rates. The government hopes the measure will encourage more residents to use public transport while also incentivising the use of alternative fuels.