UAE petrol prices for November due 31 October as Brent holds above $110

The UAE fuel price committee will announce November petrol prices on 31 October, and oil markets point to pressure on the rate. Brent crude rose above $110 a barrel on Wednesday, Gulf News reported. Neither Gulf News nor Khaleej Times reports a decision yet.

Gulf News put Brent at $110.86 and US West Texas Intermediate at $99.97. Khaleej Times gave $110.4 and $99.16 for the morning session. Both cited supply fears in the Middle East and falling US inventories. Kpler recorded at least 18 vessel attacks over the past two weeks.

The UAE reviews retail fuel prices monthly. Gulf News notes that the broader October trend, not a single Brent quote, will shape the November rates. Khaleej Times reports that December Brent contracts averaged about $104.7 in the first three weeks of October, against $101.37 in the same period of September.

October prices per litre:

• Super 98: Dh4.40, up from Dh3.80 in September
• Special 95: Dh4.28, up from Dh3.69
• E-Plus 91: Dh4.21, up from Dh3.61
• Diesel: Dh4.80, up from Dh4.30

Petrol rose by about 16 per cent in October. Before the latest Middle East conflict, in February, Super 98 was priced at Dh2.59 a litre and diesel at Dh2.72.

Gulf News also cites Goldman Sachs: average oil freight costs have risen from about $3 a barrel last year to more than $20. The bank's baseline forecast is Brent at $90 by the end of 2026. Total Middle East oil flows reached about 24 million barrels a day in the week to 18 October, the Wall Street Journal reported, citing Kpler. That is above pre-war levels, and Gulf News says recovering exports could help contain further increases.

For drivers, Gulf News gives illustrative figures, not forecasts. A 60-litre fill of Special 95 costs Dh256.80 now. Each 10-fils rise adds Dh6 to that fill, and Dh8 for an 80-litre tank. A driver using 240 litres a month would pay Dh24 more for every 10 fils. Visitors who plan to rent a car in Dubai can use these figures to estimate fuel costs.