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UAE increases fuel prices for October 2017

UAE increases fuel prices for October 2017

The price increases reflect the positive momentum of global oil benchmark Brent in recent weeks

The UAE has increased fuel prices for October after similar rises in August and September.

From next month, the rate per litre of Super 98 will rise from Dhs2.01 to Dhs2.12, for Special 95 from Dhs1.90 to Dhs2.01, for E-Plus-91 from Dhs1.83 to Dhs1.94 and diesel from Dhs2 to Dhs2.10.

Read: Fuel prices again hiked for September in the UAE

The price increases reflect the positive momentum of global oil benchmark Brent in recent weeks from a range of around $51-$52 a barrel at the end of August to around $58 a barrel on Thursday.

This has come following optimism in the market that the oil glut that has weighed on prices over the past three years is being cleared.

Read: OPEC says winning battle to end oil glut

Current concerns of a supply shortage due to a potential blockade on crude from Iraqi Kurdistan following the recent independents vote are also pushing up rpices

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