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It has been announced that gasoline prices in the UAE will fall in October.
Prices rose sharply earlier this year as global oil prices continued to rise, but both fell in August and September With oil prices falling.
The breakdown price per liter for October is as follows:
• Super 98: Dh3.03 – from Dh3.41 in September
• Special 95: Dh2.92 — from Dh3.30 in September
• diesel engine: Dh3.76 — from Dh3.87 in September
• Electron Plus 91: Dh2.85 – from Dh3.22 in September
Monthly fuel prices: October 2022 fuel prices, according to the Petrol and Diesel Price Monitoring Board #UAE
⛽ Monthly fuel price announcement:
Fuel prices in October 2022 #UAE Fuel Price Follow-up Committee pic.twitter.com/KKXa0xcj7J— Emarat (@EmaratOfficial) September 30, 2022
This price The prices announced by the UAE Fuel Price Board in July were the highest to date since it was liberalized in 2015 to bring it into line with the market.
In 2020, the Fuel Price Board froze prices in the wake of the coronavirus pandemic. These controls were lifted in March 2021 to reflect market movements.
Crude oil prices have been volatile in recent days. Fears of a global recession continued to weigh on markets as central banks around the world tightened monetary policy to curb soaring inflation.
price is Friday set for first weekly gain in five weeksSupported by a weaker dollar and the possibility of OPEC+ agreeing to cut crude oil production at its Oct. 5 meeting.
Edward Moya, senior market analyst at Oanda, said: “The deteriorating crude demand outlook will not keep oil prices higher until energy traders are confident that OPEC+ will cut production at its Oct. 5 meeting.”
“The weakness in crude prices was somewhat capped as the dollar weakened towards the end of the quarter… The dollar’s rally is far from over, but may need a break in the next 24 hours.”
The group of super-producers led by Saudi Arabia and Russia earlier this month agreed to cut its October output by 100,000 barrels a day, returning to August production levels to support prices.
Brent crude, the benchmark for two-thirds of the world’s oil, was up 0.84% at $89.23 a barrel at 2.45pm UAE time. West Texas Intermediate, which tracks U.S. crude, rose 0.46% to $81.60 a barrel.
Oil prices rose more than 67% last year as the global economy rebounded faster than expected.
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Updated: September 30, 2022 7:32pm
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