Dubai – UAE drivers are looking forward to the release of the October fuel prices, due by September 30. Residents expect the prices of petrol and diesel to increase once again or stay the same as global oil markets tighten this month.
In September, UAE fuel prices edged marginally higher in comparison to August. Super 98 was priced at Dh2.70 a litre, Special 95 at Dh2.58, E-Plus at Dh2.51, while diesel fell to Dh2.66 from Dh2.78. Ever since prices were deregulated in 2015, these monthly adjustments directly mirror global oil market trends.
Global crude prices have hardened in recent weeks. Brent crude is above $68 per barrel, with US oil crossing $64, driven by geopolitical tensions and OPEC+ supply issues. Meanwhile, Europe is experiencing higher diesel prices on account of Russian supply disruptions. Conversely, Iraq's resumption of oil exports from its Kurdistan region and higher OPEC+ production could temper the impact.
For UAE drivers, the implication is that fuel prices in October will probably be near levels for September, with maybe a moderate rise. Drastic increases look less probable unless the world situation becomes more tense or fresh supply shocks arise.
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