The prices of petrol and diesel in the UAE will fall next month, it has been announced.
Prices increased in October and September to reflect the trend in the oil market.
How much will fuel cost in November?
The breakdown in fuel price per litre for November is as follows:
• Super 98: Dh3.03, from Dh3.44 in October (down by 11.9 per cent)
• Special 95: Dh2.92, from Dh3.33 in October (a drop of 12.3 per cent)
• Diesel: Dh3.42, from Dh3.57 in October (down by 4.2 per cent)
• E-plus 91: Dh2.85, from Dh3.26 in October (decline of 12.5 per cent)
The UAE liberalised fuel prices 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 once again.
Oil prices, which breached the $95 mark in September, have since pared some gains amid concerns over the global economy and rising crude supply from countries such as Iran and Venezuela.
However, Brent crude, the benchmark for two thirds of the world's oil, has risen by about 6 per cent since October 7, when Hamas, which rules Gaza, attacked southern Israel, killing about 1,400 people and taking more than 200 hostages.
Israel has retaliated with air strikes and total siege of the enclave, with the Palestinian death toll exceeding 8,000.
Oil prices could rise to $157 a barrel in the near term if an escalation of the Israel-Gaza conflict results in a big crude supply disruption in the Middle East, the World Bank has said.
In a “large disruption” scenario, comparable to the Arab oil embargo of 1973, global supply would shrink by six million to eight million barrels per day, driving up prices to a range of $140 to $157 a barrel, the World Bank said in its latest Commodity Markets Outlook on Monday.
Under the World Bank’s baseline forecast, oil prices are projected to average $90 a barrel in the current quarter before declining to an average of $81 a barrel next year amid a global economic slowdown.
Earlier this month, Goldman Sachs maintained its oil price forecast of $100 a barrel by June 2024 on supply cuts from Opec+ producers Saudi Arabia and Russia.
Swiss lender UBS expects Brent crude to trade in the range of $90 to $100 a barrel over the next 12 months.
Earlier this month, Opec stuck to its forecast for oil demand growth for 2023 and 2024 and said it expected the global economy to grow at a faster pace this year.
World oil demand will rise by 2.25 million bpd in 2024, compared with a growth of 2.44 million bpd this year, the group said in its monthly oil market report.
COMPANY PROFILE
Short-term let permits explained
Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.
Tenants also require a letter of no objection from their landlord before being allowed to list the property.
There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.
Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
The National Editorial: Is there much to celebrate on International Women's Day 2021?
Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Jack Moore: Why the assassination is such a monumental gamble
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
Simon Waldman: Cautious Israel keeping a low profile
While you're here
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
While you're here
On Women's Day
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
More from Firas Maksad
You might also like
How a groundbreaking soil-less farming inititiave is empowering rural communities across Jordan
Essay: Venice's floods should serve as a wake-up call for the world
UAE ready for innovation in area of water management – this is not a pipe dream
Saudi artist Manal AlDowayan unveils new piece of land art addressing water scarcity in Al Ula
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
While you're here
Mustafa Alrawi: To get the 'jab' done, there must be patience and empathy
Damien McElroy: Anti-science attitudes in America are proving lethal
Editorial: What makes the UAE such a good place to test vaccines?
Editorial: The fight against Covid-19 should be guided by science
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
No%20Windmills%20in%20Basra
European arms
Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons. Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.
The Bio
Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.
Favourite book: I am a huge of Robin Cook’s medical thrillers, which I suppose is quite apt right now. My mother introduced me to them back home in New Zealand.
Favourite film or television programme: Forrest Gump is my favourite film, that’s never been up for debate. I love watching repeats of Mash as well.
Inspiration: My late father moulded me into the man I am today. I would also say disappointment and sadness are great motivators. There are times when events have brought me to my knees but it has also made me determined not to let them get the better of me.
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Whiile you're here
Damien McElroy: Anti-science attitudes in America are proving lethal
Editorial: What makes the UAE such a good place to test vaccines?
Editorial: The fight against Covid-19 should be guided by science
More from Aya Iskandarani
The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
The%20specs
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
While you're here
Kareem Shaheen: Even a pandemic could not unite today's America
Michele Wucker: The difference between a black swan and a grey rhino
Robert Matthews: Has flawed science and rushed research failed us?
You might also like
While you're here
Chitrabhanu Kadalayil: Singapore election is more than just a family feud over LKY's legacy
Sholto Byrnes: Robert Mugabe and Lee Kuan Yew: two leaders with very different legacies
Dr Vivian Balakrishnan: UAE and Singapore can be partners for a world in transition
Nick March: Singapore and UAE are on the move – in airport development
Our commentary on Brexit
- Alistair Burt: Despite Brexit, Britain can remain a world power
- Con Coughlin: Choice of the British people will be vindicated
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
While you're here
Ed Husain: The far left is trying to hijack Muslim minds in the West
Sulaiman Hakemy: Why it is very important to lose elections
Rashmee Roshan Lall: US race relations in three words
Meg%202%3A%20The%20Trench
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Kareem Shaheen on Canada
Our commentary on Brexit
- Alistair Burt: Despite Brexit, Britain can remain a world power
- Sam Williams: Departure is influenced by its sense of place
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
The specs
Killing of Qassem Suleimani
National Editorial: Suleimani has been killed, now we must de-escalate
Mina Al Oraibi: Air strike casts a long shadow over the decade ahead
Matthew Levitt: Iran retains its ability to launch terror attacks
Damien McElroy: A CEO tasked with spreading Iran's influence
Hussein Ibish: Trump's order on solid constitutional ground
Simon Waldman: Cautious Israel keeping a low profile
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Porsche Taycan Turbo specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 1050Nm
Range: 450km
Price: Dh601,800
On sale: now
Leaderboard
63 - Mike Lorenzo-Vera (FRA)
64 - Rory McIlroy (NIR)
66 - Jon Rahm (ESP)
67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)
68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)
69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)
The%20specs
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Islamic%20Architecture%3A%20A%20World%20History
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
While you're here
Bharat
Director: Ali Abbas Zafar
Starring: Salman Khan, Katrina Kaif, Sunil Grover
Rating: 2.5 out of 5 stars
While you're here
Kelsey Warner: Does it actually matter who builds 5G?
Mustafa Alrawi: China has taken the lead over the West
Alkesh Sharma: Impact of uprooting Huawei from UK's 5G plans
