The Ministry of Energy in the UAE announced the new price changes for the month of November on Sunday. The fuel prices will be increased for the upcoming month once again. The increase in prices is very slight but it is an increase nonetheless.
The motorist will feel the pressure of the new prices no matter how small or insignificant. With the steady increase of the fuel prices since April, the changes in fuel prices have been steady. Diesel Price receives the biggest hike, which increased by 8.52% from October prices.
Fuel Prices for the Month of November
The new per litre price for the month of November for diesel has increased to AED 1.91 from AED 1.76. The price for Super 98 has increased to AED 1.90, for October Super 98 price was AED 1.81. For Special 95, the new price for November is AED 1.79, the price in October was AED 1.70. The price of E-Plus 91 has increased from AED 1.63 to AED 1.72.
Crude Oil Prices Recover Due To Efforts of OPEC
The new fuel prices are announced just as the crude oil prices are stabilizing globally after the discussion of member countries of OPEC, Organization of the Petroleum Exporting Countries. On 28th September in Algeria, the member countries agreed to reduce the output to 32.5 million to 33 million barrels per day.
The next meeting which will be on 30th November, this time in Vienna will be focused towards stabilizing the oil prices. What this will mean for the fuel consumption and prices for the UAE is yet to be seen. Motorists in the UAE need to now look for the alternatives to get out of the trouble. The fuel-efficient cars seem like a viable option for the motorists in this scenario for the fuel efficient nature. The new fuel prices will come in effect from 1st November, 2016.
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