The UAE Gasoline and Diesel Price Committee announced, Today is Monday, About fuel prices “petrol and diesel” for October 2024.
According to the Emirates News Agency “WAM”, Super 98 petrol will cost around Dh2.66 per litre, compared to around Dh2.90 per litre in September.
While the private gasoline 95 will cost about 2.54 dirhams per liter, compared to about 2.78 dirhams per liter in the previous month of this year.
E-Plus 91 petrol will be available at AED 2.47 per litre, compared to AED 2.71 per litre in September 2024.
While diesel will now cost Dh2.60 per litre, compared to about Dh2.78 per litre last September.
Fuel Price List in UAE
- Diesel fuel: 2.6 dirhams per liter.
- Super gasoline “98”: 2.66 dirhams per liter.
- Special gasoline “95”: 2.54 per liter.
- E-Plus 91 petrol: 2.47 dirhams per litre.
Fuel price liberalization
According to Emirati media, the UAE deregulated fuel prices in 2015 to allow them to move in line with the market.
Brent crude was trading up 0.63% at $72.43 a barrel on Monday, while West Texas Intermediate crude was up 0.67% at $68.64 a barrel.
Oil prices have fallen over the past week amid expectations of increased crude supplies from Saudi Arabia and Libya. Crude prices fell more than 2% on Thursday after reports that Saudi Arabia, the world’s largest oil exporter, plans to increase its oil production.
Global oil market
Saudi Arabia and seven other OPEC+ members are set to ease voluntary production cuts of 2.2 million barrels per day starting next month. However, supply curbs have been extended until the end of November amid falling crude prices and slumping global demand.
The oil market is also still suffering from the economic situation in China, where the world’s second-largest importer of crude oil continues to face headwinds on the back of weak oil demand and a sluggish manufacturing sector.
China last week unveiled its most aggressive stimulus package since the Covid-19 pandemic, offering further cuts in interest rates and financing, especially for the soaring property market, in a bid to boost the world’s second-largest economy.
