UAE fuel prices to rise in October

Motorists can expect price rises of roughly 2 to 3.5 per cent



The UAE’s Ministry of Energy has announced that fuel prices will increase again in October after a slight price rise this month.

From October 1, Super 98 will increase from Dhs1.75 a litre to Dhs 1.81, Special 95 from Dhs1.64 to Dhs1.70, E Plus 91 from Dhs1.57 to Dhs1.63 and diesel from Dhs1.72 to Dhs1.76.

Read: UAE fuel prices to increase again in September

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The UAE reduced fuel subsidies last year, instead introducing a system that calculates prices based on global oil benchmarks.

Read: UAE savings from fuel price reform to swell in coming years -IMF

October’s price increases follow a deal between OPEC members late on Wednesday to reduce their oil output for the first time since 2008.

Read: OPEC agrees to modest oil output curbs

So far the market response has been limited with international oil benchmark Brent declining 0.74 per cent to $48.33 at the time of writing.