Motorists in the United Arab Emirates may see an increase in fuel prices in November as global crude oil rates continue to rise. Brent crude prices recently surpassed $110 per barrel, while U.S. West Texas Intermediate (WTI) is nearing $100, driven by escalating geopolitical tensions in the Middle East and oil transportation concerns.
In October, UAE fuel prices saw a notable increase, with petrol rates rising nearly 16% from the previous month. This upward trend reflects the country’s fuel pricing system, which adjusts monthly based on international market conditions. If crude oil prices remain elevated, it could lead to another adjustment in November.
As of September, Super 98 petrol was priced at Dh3.80 per litre, Special 95 at Dh3.69, and E-Plus 91 at Dh3.61, while diesel was Dh4.30 per litre. These figures had already increased significantly 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 rise in oil prices has sparked concerns that UAE motorists could face higher fuel expenses next month. However, the exact rates for November will depend on the prevailing market conditions used in the upcoming monthly pricing review.
The UAE is expected to announce its official fuel rates for November towards the end of October. Until the announcement is made, it remains uncertain whether petrol prices will stay above Dh4 per litre or increase further.