UAE fuel prices to go up for October

Abu Dhabi: Fuel prices in the UAE are set to go up for the month of October, the Ministry of Energy announced on Thursday.

The  new per litre prices are Super 98 at Dh1.81, up from Dh1.75 in September, Special 95 at Dh1.70, up from Dh1.64; E Plus 91 at Dh1.63, up from Dh1.57.

Diesel price has been increased from Dh1.72 per litre in September to Dh1.76 per litre for October.

Fuel prices are linked to international average crude prices which have gone up by about 5 per cent on Wednesday night after Opec (Organisaiton of the Petroleum Exporting Countries) reached a deal to limit production.

Brent, the global benchmark was trading slightly above $48 per barrel at 1:50 PM UAE time and West Texas Intermediate, the US benchmark was at $46.80 per barrel.

The fuel prices are calculated based on the average global prices for diesel and petrol with the addition of operating costs and profit margins of the distributing companies in the UAE.

New prices will come into effect from October 1.