Motorists in the United Arab Emirates are bracing for the possibility of further hikes in petrol and diesel prices in November, as international crude oil prices continue to rise. Brent crude has surged past $110 per barrel, and the US West Texas Intermediate (WTI) is nearing the $100 mark. This increase is driven by mounting geopolitical tensions in the Middle East and ongoing concerns about oil transportation, which have collectively exerted upward pressure on global energy markets.
The anticipated price rise in November follows a significant adjustment in October, when petrol prices in the UAE jumped by nearly 16% compared to September. This increase is part of the UAE’s monthly fuel pricing system that mirrors international market trends, suggesting that ongoing increases in crude oil prices will likely influence the next price adjustment.
In September, the UAE saw Super 98 petrol priced at Dh3.80 per litre, Special 95 at Dh3.69, and E-Plus 91 at Dh3.61. Diesel reached Dh4.30 per litre. These prices had already seen substantial increases since February, when Super 98 was Dh2.59, Special 95 Dh2.48, E-Plus 91 Dh2.40, and diesel Dh2.72 per litre.
The situation has generated concern among UAE motorists who could face additional fuel expenses in the upcoming month. However, the official prices for November will be determined based on the market conditions assessed during the monthly pricing review.
The UAE is expected to announce its November fuel rates towards the end of October. Until then, it remains unclear whether petrol prices will remain above Dh4 per litre or experience further increases.