Brent Nears $116: Will UAE Petrol Prices Shatter the Dh4.63 Record?
$115.68 a barrel was the price of Brent crude on Wednesday morning after Houthi attacks on Saudi Arabia’s energy facilities triggered fresh supply fears across global markets.
That jump leaves fleet managers, logistics operators, and individual motorists bracing for another upward shift in transport overheads as October draws to a close. The UAE Fuel Price Committee will reveal the official retail fuel rates for November on Saturday, October 31, 2026. With global crude climbing, WTI also ticked up to $101.48 a barrel, businesses running delivery fleets must factor in mounting fuel expenditures that have already hovered at four-year highs throughout October.
The key question for operating margins is whether next month’s pricing will breach the all-time record set in July 2022, when Super 98 peaked at Dh4.63 per litre in the wake of the Russia-Ukraine war.
| Fuel Type | October 2026 Price | July 2022 Record High |
|---|---|---|
| Super 98 | Dh4.40 per litre | Dh4.63 per litre |
| Special 95 | Dh4.28 per litre | Dh4.52 per litre |
| E-Plus 91 | Dh4.21 per litre | Not applicable |
For businesses running tight operating budgets, the jump from September, when Super 98 sat at Dh3.80 and Special 95 at Dh3.69, has already compressed margins. December futures contracts averaged around $107.3 a barrel during October, reflecting persistent volatility spurred by declining global oil reserves and regional security friction.
Yet, some market watchers suggest the rally might face a ceiling. Daniel Takieddine, co-founder and CEO of Sky Links Capital Group, points out that ongoing diplomatic channels could temper the upward momentum. Regional governments are stepping up talks with Tehran to restart negotiations, a track that could strip away some of the current geopolitical risk premium if traction improves.
Until the committee publishes its schedule this Saturday, transport-heavy enterprises and everyday drivers should model their cash flow around sustained high pump prices.
