Petrol to be cheaper next month, diesel to cost more

Traders worried as US sanctions are set to kick in against Iran’s oil industry on November 5

The Ministry of Energy and Industry yesterday announced new fuel prices for the month of November, with petrol set to get cheaper while diesel will cost slightly more.

Super 98 will cost Dh2.57, down 4 fils from Dh2.61 in October. Special 95 price is also 4 fils down costing Dh2.46 compared to Dh2.50 in October. E-Plus 91 for November is down 3 fils costing Dh2.38 from Dh2.41 in October. Diesel prices however have gone up by 11 fils from Dh2.76 to Dh2.87.

With US sanctions set to kick in against Iran’s oil industry on November 5 traders are worrying about the supply side, with a risk of prices going up again. Saudi Arabia has said that it would replace any shortages in the oil market to ensure prices remain stable.