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UAE fuel prices rise nearly 10% in November 2022

Emarat
Fuel prices across the UAE were deregulated from August 2015

Fuel prices have increased in the UAE this month (November 2022), state-owned Emirates General Petroleum (Emarat) said in a tweet.

Prices of Super 98 rose 9.6 percent to AED3.32 ($0.90) from AED3.03 in October. Special 95 jumped 9.6 percent to AED3.20 from AED2.92, while E-plus 91 increased nearly 10 percent to AED3.13 from AED2.85 in October.

Diesel prices edged up 6.6 percent to AED4.01 from AED3.76 last month.

Fuel prices across the UAE were deregulated from August 2015, as the government adopted a new policy linked to global prices, according to U.ae, the official portal of the UAE government.

The Ministry of Energy and Infrastructure and the Ministry of Finance act as the government’s representatives in a committee set up to review fuel prices every month.

In its annual outlook released on Monday, OPEC raised its forecasts for world oil demand in the medium and longer term, adding that $12.1 trillion of investment is needed to meet this demand despite the energy transition.

The oil group said world oil demand will reach 103 million barrels per day (bpd) in 2023, up 2.7 million bpd from 2022. The 2023 total demand is up 1.4 million bpd from last year’s prediction, the report said.

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