Fuel prices drop in UAE for November

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Staff Report

Dubai – Fuel prices in the UAE dropped for the first time in four months for the month of November, it was announced on Monday.

The Ministry of Energy announced October 30, new petrol prices for November in the UAE.

The per-litre prices have been fixed for Super 98 at Dh2.03 (down from Dh2.12 in October); Special 95 at Dh1.92 (from Dh2.01 last month); E Plus-91 at Dh1.85 (down from Dh1.94 in October).

And diesel price has been fixed at Dh2.11 per litre, a slight increase from Dh2.10 in October.

UAE fuel prices are linked to international crude oil prices.

Brent, the global benchmark, jumped to above $60 a barrel for the first time in more than two years on October 28, amid enthusiasm that Opec may extend its output deal.

UAE has cut up to 10 per cent of their oil exports in the last two months in accordance with the Opec agreement, energy minister Suhail Al Mazroui said on September 25.
Last December, the Organisation of the Petroleum Exporting Countries (OPEC) struck a deal to reduce output by about 1.8 million barrels a day.
This was extended for another nine months in May to go on till March, 2018. – abdulbasit@theuaenews.com