The UAE fuel price committee has announced petrol and diesel prices for the month of October 2024. The new rates will apply from October 1 and are as follows:
Petrol prices were expected to drop for October as global oil prices remained subdued in September.
Brent oil prices averaged nearly $73 a barrel in September compared to $78.63 a barrel in August due to multiple factors such as firmer supply and news about Saudi Arabia planning to increase production.
Oil lost more than 4 per cent in just two days last week after the news of Saudi planning to abandon the $100 per barrel target and increase output.
Since UAE deregulated petrol prices in 2015 and aligned them with global rates, the rates are revised at the end of every month. The UAE’s Fuel Price Committee will officially announce retail petrol and diesel rates tomorrow to align them with the global rates.
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