The UAE Fuel Price Committee has unveiled the petrol and diesel prices for October 2024. The updated rates will be effective from October 1 and are as follows:
Super 98 petrol will be priced at Dh2.66 per litre, a decrease from Dh2.90 in September. Special 95 petrol will cost Dh2.54 per litre, down from Dh2.78. E-Plus 91 petrol will be available at Dh2.47 per litre, compared to Dh2.71 in September. Diesel will be charged at Dh2.6 per litre, a reduction from Dh2.78.
The expected drop in petrol prices for October is attributed to the subdued global oil prices in September. Brent oil prices averaged around $73 per barrel in September, compared to $78.63 in August, influenced by factors such as increased supply and news about Saudi Arabia's plans to boost production. Oil prices plummeted by over 4% in just two days last week following the announcement that Saudi Arabia might abandon its $100 per barrel target and increase output.
Since the UAE deregulated petrol prices in 2015 and synchronized them with global rates, these rates are adjusted at the end of each month. The UAE's Fuel Price Committee will officially announce the retail petrol and diesel rates tomorrow to align them with global benchmarks.
