Last month, motorists were in for a windfall when cuts in prices were announced for the most popular fuel types, including Super 98, Special 95, and E-Plus 91, with cuts in diesel. The latest cuts had come as great news and a relief for the motorists, and this was overdue after the fuel cost had soared high for a greater part of the year.

Prices of petrol began their upward ride in January 2024: Super 98, Special 95, and E-Plus 91, with the price of diesel remaining nearly flat. E-Plus 91 cost AED2.64 per liter, while the price of diesel was AED3 per liter. Jumping ahead to September, despite the decrease in price last month, E-Plus 91 runs AED2.71 per liter more compared to the starting price. It has raised Special 95 from AED2.71 per liter to AED2.78 per liter and Super 98 from AED2.82 per liter to AED2.90 per liter.

By numbers starting September 1st, Super 98 decreased to AED2.90 per liter from AED3.05 in August; Special 95 went down to AED2.78 from AED2.93 and E-Plus 91 to AED2.71 from AED2.86 per liter. Diesel lost to AED2.78 per liter from AED2.95 in August. Although these cuts were minor in number value, they were good enough to warm the hearts of many on-the-go workers who rely very much on their vehicles.

This is not the first time that the UAE is dealing with high prices of fuel. In the year 2020, in the wake of COVID-19, which largely spread across the world, the UAE Fuel Price Committee had frozen the price of fuel to protect consumers from growing global oil prices at least for some time. However, in March 2021, when oil prices started to rise once more, these controls were lifted and allowed fuel prices to follow the market. Ever since, it has been a series of ups and downs in the price of petrol, purely under the force of changes in the global crude oil market-a generally quite unpredictable affair.

For the year 2024, the story of fuel prices goes to unrelenting fluctuation. In May, for example, Super 98 peaked at AED3.34 per liter while Special 95 had the second spot with AED3.22 per liter. Diesel also surged to AED3.07 per liter. But these have gone down by September quite significantly and brought a certain relief both to the residents and businesses of the UAE. These changes mean something, because transport plays a significant role in the life of Emiratis: many people take cars to work, go for errands, let alone all the logistics that play an immense role in this country's economy.

Until now the decline in prices has relieved some of the pressure on the cost of living. However with greater curiosity, October's rates will be closely watched. The question everyone is asking themselves is whether the trend of lower prices is likely to persist or if they will be faced with another increase. The UAE, as with many other countries, remains tied to the movement of crude prices upwards or downfalls, hence the changes in the global oil market prices continue hitting the pump price of fuel.

UAE fuel prices

Prices in AED per litre	E-Plus 91	Special 95	Super 98	Diesel
September 2024	2.71	2.78	2.90	2.78
August 2024	2.86	2.93	3.05	2.95
July 2024	2.80	2.88	2.99	2.89
June 2024	2.95	3.02	3.14	2.88
May 2024	3.15	3.22	3.34	3.07
April 2024	2.96	3.03	3.15	3.09
March 2024	2.85	2.92	3.03	3.16
February 2024	2.69	2.76	2.88	2.99
January 2024	2.64	2.71	2.82	3
December 2023	2.77	2.85	2.96	3.19
November 2023	2.85	2.92	3.03	3.42
October 2023	3.26	3.33	3.44	3.57
September 2023	3.23	3.31	3.42	3.40
August 2023	2.95	3.02	3.14	2.95

Petrol & Diesel Price Forecast for October 2024: Fuel Prices Next Month

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