Petrol prices across the UAE will drop in October, it has been announced.
Prices rose sharply earlier this year on the back of sustained high global oil prices, but fell in both August and September as oil prices eased.
The breakdown price per litre for October is as follows:
• Super 98: Dh3.03— from Dh3.41 in September
• Special 95: Dh2.92 — from Dh3.30 in September
• Diesel: Dh3.76 — from Dh3.87 in September
• E-plus 91: Dh2.85— from Dh3.22 in September
The prices announced by the UAE Fuel Price Committee in July were the highest so far since they were liberalised in 2015 to allow them to move in line with the market.
In 2020, prices were frozen by the Fuel Price Committee after the onset of the coronavirus pandemic. The controls were removed in March 2021 to reflect the movement of the market.
Crude prices have been extremely volatile in recent days. Global recession fears have continued to weigh on the market as the world's central banks tighten monetary policy to curb soaring inflation.
Prices were headed for their first weekly gain in five weeks on Friday, underpinned by a weaker US dollar and the possibility that Opec+ may agree to cut crude output when it meets on October 5.
“A deteriorating crude demand outlook won’t allow oil to rally until energy traders are confident that Opec+ will slash output at the October 5 meeting,” said Edward Moya, a senior market analyst at Oanda.
“The weakness with crude prices is somewhat limited as the dollar softens going into quarter-end … The rally in the dollar is far from over, but it could take a break over the next 24 hours.”
The super group of oil producers, led by Saudi Arabia and Russia, agreed earlier this month to cut its October output by 100,000 barrels per day, reverting to August production levels to support prices.
Brent, the benchmark for two thirds of the world's oil, was up 0.84 per cent at $89.23 a barrel at 2.45pm UAE time. West Texas Intermediate, the gauge that tracks US crude, was trading 0.46 per cent to $81.60 a barrel.
Oil prices rose more than 67 per cent last year amid a faster-than-expected global economic rebound.
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Best fuel-efficient SUVs — in pictures
Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes.
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Basquiat in Abu Dhabi
One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi.
The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier.
It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.
“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi.
Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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Panipat
Director Ashutosh Gowariker
Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment
Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman
Rating 3 /5 stars
