The Ministry of Energy and Industry has announced the fuel prices for November. All the prices include VAT.
Super 98 petrol now costs AED 2.57 (down from AED 2.61 in October) per litre while Special 95 petrol costs AED 2.46 per litre (down from AED 2.50 this month).
Diesel prices have seen a small rise with the rate per litre for November fixed at AED 2.87, up from AED 2.76 for October.
Brent crude prices had shot up at the beginning of October, touching $86 per barrel. As of October 29, however, Nasdaq shows prices at around $77.02 per barrel.
A lot of the ups and downs in the market can be credited to the U.S. announcements of sanctions on countries importing oil from Iran. The production deals in effect between OPEC countries have also affected the market. Analysts expect the price to go up to as much as $80 per barrel once the sanctions come into effect from November 4.