Petrol prices may see major hike from Feb 1
ABU DHABI: The UAE Fuel Price Committee has announced a reduction in petrol and diesel prices for October, reflecting the global decline in oil prices. The new rates will be effective from October 1.
This price drop follows the global oil market downturn, with Brent oil prices averaging $73 per barrel in September, down from $78.63 in August. Increased supply and Saudi Arabia’s plans to boost production contributed to this decrease.
The UAE’s Fuel Price Committee reviews and adjusts retail fuel rates monthly to align with global rates, a practice in place since the deregulation of petrol prices in 2015.
The reduced fuel prices are expected to provide relief to consumers support the UAE’s economic growth and strike a balance between reflecting global market trends and supporting the local economy.
Super 98 petrol: Dh2.66 per litre (down 24 fils from September)
Special 95 petrol: Dh2.54 per litre (down 24 fils)
E-Plus 91 petrol: Dh2.47 per litre (down 24 fils)
Diesel: Dh2.60 per litre (down 18 fils)
This move is anticipated to have a positive impact on the UAE’s consumers and businesses, helping to mitigate the effects of inflation and promote economic stability.
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