UAE Fuel Prices Drop in November After October Increase
The monthly meetings of the UAE Fuel Price Committee, which is responsible for setting fuel prices, reflect the volatility of the global energy market and contribute to this increase. Special 95 gasoline has suffered a 25% price increase over the past year, while diesel has remained relatively stable. The announcement of the UAE's November gas prices is anticipated with great anticipation by drivers across the country.
Steady Fluctuations in Fuel Costs Throughout the Year
The United Arab Emirates is set to publish its new gas and diesel prices for November, following increases for a fourth consecutive month in October. Diesel prices have remained relatively stable over the past year, unlike the vast majority of other fuels.
A Year of Consistency with Some Exceptions
Fuel prices in the UAE have largely remained consistent with the previous year, with diesel being the only exception, showing a notable drop in price. Petrol prices, on the other hand, have witnessed a substantial 25 percent increase throughout this year, with fluctuations in the cost of refueling observed since January.
Starting on October 1, Special 95 petrol was priced at AED 3.33 per liter, marking a significant 24.7 percent surge from the AED 2.67 price recorded in January. The UAE's petrol price variations throughout the year reflect the dynamic nature of the global energy market, which in turn influences rates at the pump.
Fuel Price Committee's Monthly Determinations
The UAE Fuel Price Committee convenes monthly to assess whether fuel prices should be adjusted upward or downward based on global market conditions and energy dynamics.
As of October 1, the cost of filling up vehicles in the UAE stands as follows:
- Special 95: AED 3.33 per liter, up 24.7 percent from January.
- Super 98: AED 3.44 per liter, up 23.7 percent from January.
- E-Plus: AED 3.26 per liter, up 10.5 percent from January.
- Diesel: AED 3.57 per liter, up 8.5 percent from January.
As fluctuations continue to affect their cost of living and travel expenses, motorists and consumers are eagerly awaiting the announcement of fuel prices for November. The committee's decision will reflect the ongoing shifts in the global energy market.