Global oil prices hit near 3-year high this week before falling to $1.03 per barrel on Wednesday
The Fuel prices in the UAE will increase by up to 5.4 percent in October, according to the latest announcement by the fuel price committee on Wednesday.
Super 98 will be 2.60 dirhams per litre, up by 2 percent from 2.55 dirhams in September. Special 95 will cost 2.49 dirhams, rising by 2 percent in October.
As for E-Plus, the price next month will be 2.42 dirhams, up from 2.36 in September.
Diesel price will jump by 5.4 percent to 2.51dirhams per litre.
Oil demand has been growing since COVID-19 restrictions eased and gasoline shortages have been reported in some markets.
In August, more than 98 million barrels/per day of petroleum and liquid fuels were consumed globally, an increase of 5.7 million b/d from August 2020, according to the US Energy Information Administration.
Brent crude oil spot prices averaged $71 per barrel last month, down $4 per barrel from the previous month but up $26 from August last year.
This week, prices have reached their highest levels in nearly three years at $80.75 per barrel before dropping to $1.03 on Wednesday.
0 comments