UAE to announce petrol, diesel prices for November; will rates increase?

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The UAE fuel price committee is set to announce petrol and diesel prices for the month of November soon.

The country has been revising retail petrol prices on the last day of the month ever since the government deregulated oil prices in August 2015 to bring them at par with the global rates.

The fuel price committee increased the retail rates for Super 98, Special 95, and E-Plus 91 by as much as 3  fils per litre in October from the previous month, rising for the fourth month in a row.

For the month of October, a litre of Super 98, Special 95 and E-Plus were priced at Dhs3.44, Dhs 3.33 and Dhs3.26, respectively.

The price of diesel was also increased by 17 fils to Dhs3.57 in October compared to Dhs3.40 the previous month.

Meanwhile, global oil prices dropped by more than 2 per cent on Monday and are set for another volatile week of trading as concern eased about the Israel-Hamas conflict affecting supply from the

Brent for December settlement slipped $2.83 or 3.33 per cent to settle at $82.70 per barrel, as at 7:37 pm GST on October 30.

The Middle East supplies about a third of the world’s oil and the biggest risk to crude prices remains any escalation to other regional powers.

Read: UAE announces petrol, diesel prices for October