The UAE’s Fuel Price Committee has announced the petrol and diesel price for the month of October, 2024. These prices will remain in effect for the month of October and will be updated in November 2024.
Fuel costs significantly influence the overall cost of vehicle ownership and for those looking to buy new cars in UAE, fuel prices can be one of the considerations. Knowing the latest fuel prices can help gauge operating costs and budget accordingly.
Latest Per Litre Petrol Prices in the UAE – October 2024
| Fuel Type | Price |
| EPlus 91 | AED 2.47 |
| Special 95 | AED 2.54 |
| Super 98 | AED 2.66 |
| Diesel | AED 2.60 |
These updated prices make October the second consecutive month of fuel cost reductions, providing some relief for motorists across the UAE. As fuel prices change regularly, they can impact both new car buyers and owners in various ways, from commuting costs to long-distance travel.
Comparison of Fuel Prices: August, September, and October 2024
The fuel price trend over the last few months shows a steady decline. Here’s how prices have changed from August to October 2024:
| Month | Super 98 (AED) | Special 95 (AED) | EPlus 91 (AED) | Diesel (AED) |
| August 2024 | 3.05 | 2.93 | 2.86 | 2.95 |
| September 2024 | 2.90 | 2.78 | 2.71 | 2.78 |
| October 2024 | 2.66 | 2.54 | 2.47 | 2.60 |
As shown, Super 98 has dropped from AED 3.05 per litre in August to AED 2.66 in October, a reduction of AED 0.39 over two months. Similarly, Special 95 fell from AED 2.93 in August to AED 2.54 in October, reflecting a AED 0.39 decrease. The EPlus 91 price has also seen a consistent decline, dropping from AED 2.86 in August to AED 2.47 in October, while diesel prices fell from AED 2.95 in August to AED 2.60 this month.
Analyzing the Fuel Price Trends
The consistent decrease in fuel prices over the past three months is largely influenced by fluctuations in global oil markets. These reductions come after a period of rising fuel costs earlier in 2024.
This steady decline in fuel costs not only impacts everyday driving expenses but also has broader implications for the UAE’s automotive market. Lower petrol prices make operating costs more manageable, which could lead to increased consumer interest in larger, less fuel-efficient vehicles such as SUVs. This trend could have a direct influence on new car prices in UAE, as demand for certain types of vehicles shifts in response to fuel price changes.
How This Impacts New Car Buyers
For anyone looking to purchase a new car in the UAE, the fluctuation in fuel prices is more than just a monthly update—it can influence decisions about which type of vehicle to buy.
Lower petrol prices translate into lower per-kilometre running costs, making new vehicles more attractive in terms of long-term ownership costs. A full petrol tank is now cheaper, with savings ranging from AED 9.60 to AED 28.80, depending on the tank size. For instance, if you're driving a car with a 60-litre tank, you'll pay AED 14.40 less to fill up with EPlus 91 compared to the previous month, which adds up over time for daily commuters or frequent long-distance drivers.
Fuel Price Determination in the UAE
Since 2015, the UAE government has deregulated fuel prices, meaning they are now determined by the global oil market. Each month, the Fuel Price Committee reviews and adjusts prices based on international oil trends. This policy ensures that fuel prices reflect the real-time state of the global market and allows residents to plan accordingly.
Looking Ahead: November 2024 Fuel Price Predictions
As we approach November 2024, it is pertinent to ask if fuel prices will continue to drop. Based on recent trends, a slight decrease in petrol and diesel prices is anticipated. However, these predictions remain speculative until the Fuel Price Committee officially announces the November rates at the end of October.
Conclusion
As fuel prices in the UAE fluctuate, they continue to play a significant role in influencing both current car owners and potential new car buyers. Lower petrol and diesel prices in October 2024 are particularly beneficial for reducing the overall cost of vehicle ownership. Buyers should stay informed on fuel price changes as they assess new car prices in UAE, considering both the immediate and long-term financial impacts of their vehicle choices.
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