UAE Fuel Prices to Be Announced Today Amid Modest Decline in Brent Crude

The UAE Fuel Price Committee will announce September's fuel prices today, and market trends suggest that a modest reduction or broadly stable prices are more plausible than a steep cut.

Last week, Brent crude oil lost over 5% to settle at $89.31 per barrel, following speculation about progress towards an agreement on shipping through the Strait of Hormuz.

Despite the decline, much of August's average oil price was higher than July's, at around $87.70 compared to $83.46. This makes a large reduction in fuel prices less certain.

A 10-fils-per-litre reduction would save motorists Dh6 on a 60-litre fill-up and Dh8 on an 80-litre fill-up, while a 20-fils reduction would save Dh12 and Dh16 respectively.