- UAE fuel price committee announces October 2024 petrol and diesel price reduction.
- Price decrease anticipated due to global oil price drop.
- UAE fuel price committee reviews and adjusts fuel prices monthly.
The UAE Fuel Price Committee has announced a reduction in petrol and diesel prices for October 2024, reflecting the recent decline in global oil markets. The new rates, effective from October 1, are as follows:
- Super 98 petrol: Dh2.66 per liter (down from Dh2.90 in September)
- Special 95 petrol: Dh2.54 per litre (down from Dh2.78)
- E-Plus 91 petrol: Dh2.47 per litre (down from Dh2.71)
- Diesel: Dh2.60 per liter (down from Dh2.78)
This price decrease was anticipated following a drop in global oil prices, with Brent crude averaging $73 per barrel in September, compared to $78.63 in August. The decline in prices was driven by increased supply and Saudi Arabia’s decision to ramp up production.
The UAE Fuel Price Committee regularly reviews and adjusts fuel prices each month to align with global market trends, a practice that began in 2015 when petrol prices were deregulated.
The lower fuel rates are expected to provide financial relief to consumers and contribute to the overall growth of the UAE’s economy.
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