Crude rally above $116 puts upward pressure on domestic petrol and diesel rates ahead of the UAE Fuel Price Committee’s monthly review
DUBAI, Oct. 27, 2026 : Motorists across the United Arab Emirates could see pump prices climb again in November following a steep rise in global crude benchmarks, which pushed Brent above $116 a barrel late last week.
The UAE Fuel Price Committee is preparing to announce revised retail fuel rates for November in the coming days, concluding a month marked by acute volatility in international energy markets.
Oil benchmarks cooled slightly on Monday, offering minor respite after Friday’s rally. Brent dropped 1.4% to trade at $110.12 a barrel, while West Texas Intermediate settled 1.8% lower at $101.37. The brief decline came after Brent climbed 3.1% on Friday to settle at $116.72, extending an advance from below $97 recorded early in October.
The October average will dictate the committee’s decision. The pricing mechanism reflects global market movements across crude and refined petroleum products throughout the month, meaning Monday’s retreat will only partially counterbalance weeks of elevated trading.
If the committee approves another upward revision, retail rates will move closer to all-time highs recorded in July 2022. During that historic peak, Super 98 peaked at Dh4.63 a litre, Special 95 stood at Dh4.52, and E-Plus 91 reached Dh4.44. Current prices sit 23 to 24 fils below those records.
Motorists are already absorbing substantial price hikes implemented at the start of October, when petrol grades surged roughly 16% and diesel climbed 11.6%. Super 98 currently retails at Dh4.40 per litre, Special 95 at Dh4.28, and E-Plus 91 at Dh4.21. Diesel stands at Dh4.80 per litre.
For a driver filling a standard 60-litre tank with Special 95, the monthly fuel bill sits at Dh256.80, up from Dh221.40 in September. Super 98 costs Dh264 for the same volume, while E-Plus 91 costs Dh252.60. A further rise of 10 fils per litre across grades would add Dh6 to a 60-litre refuel, while a 20-fils increase would add Dh12.
Global supply risks have driven the recent price surge. Regional shipping routes remain under pressure from maritime security concerns, particularly around the Strait of Hormuz. Freight costs have magnified the physical cost of crude; estimates from Goldman Sachs indicate global oil transport costs jumped from approximately $3 a barrel last year to upwards of $20, with select Middle East corridors reaching $35 a barrel.
The investment bank cautioned that ongoing logistics disruptions could keep oil above its baseline projection of $90 a barrel through the end of 2026.
Mitigating factors may check the scale of any November increase. Shipping data show regional producers have successfully restored substantial export volumes through operational adjustments and alternate pipeline routing. How the committee balances these supply adaptations against elevated freight and refined product averages will become clear when the Ministry of Energy releases the official price slate at month’s end.
