The latest fuel price announcement in the UAE is good news for many drivers and businesses alike. Starting November 1, petrol prices will take a slight dip, offering some relief at the pump after months of stability or gradual increases. 

For everyday motorists, this means lower fuel expenses every time they fill up, which could add up to significant savings over the month.

Savings for residents

For those who commute daily, especially in busy cities like Dubai and Abu Dhabi, this drop could mean more money in your pocket to spend on other essentials or even a small treat, whether that’s dining out, shopping, or saving for other plans. 

With petrol prices dropping from around Dh2.77 to Dh2.63 for Super 98 and from Dh2.66 to Dh2.51 for Special 95, your monthly fuel bills could shrink noticeably, offering some breathing room in your household budget.

Benefit for businesses

Business owners, particularly in sectors like transport, delivery, and logistics, will also notice some benefits. Lower diesel prices – down to Dh2.67 from Dh2.71 – can help cut operating costs, easing pressures on freight charges and potentially keeping prices competitive. With fuel costs now reflecting a brief period of decline, there’s a chance that consumers and companies can enjoy more stability in their expenses.

This move aligns with the UAE government’s approach of adjusting fuel prices based on international oil market trends. It’s a clear sign that, despite global uncertainties and geopolitical tensions, the country is trying to ensure that fuel remains affordable for its residents while maintaining a sustainable economy.

Overall, these price cuts are very welcome, especially as the cost of living continues to influence people’s daily financial decisions. If petrol prices stay this low, it’s a win for everyone: motorists, families, and businesses, who will feel the positive impact on their monthly budgets.

Fuel rates applicable from November 1:

• Super 98 petrol will cost Dh2.63 a litre, compared to Dh2.77 in October.
• Special 95 petrol will cost Dh2.51 per litre, compared to the current rate of Dh2.66.
• E-Plus 91 petrol will cost Dh2.44 a litre, compared to Dh2.58 a litre in October.
• Diesel will be charged at Dh2.67 a litre, compared to the current rate of Dh2.71.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced the launch of a Dh4.7 billion permanent endowment district whose proceeds will go toward supporting health and education projects worldwide.

The major philanthropic project, launched under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives, will serve as a sustainable charitable endowment designed to fund humanitarian causes for generations to come.

Sheikh Mohammed shared the announcement on his official X account, writing:

“We have launched an endowment project worth Dh4.7 billion under the Mohammed bin Rashid Al Maktoum Global Initiatives. It is a perpetual charitable endowment whose proceeds will go towards supporting health and education projects around the world.”

A model for sustainable giving

The new endowment district will include:

• A hospital with the capacity to serve 90,000 patients annually
• A medical university
• Schools accommodating more than 5,000 students
• Residential buildings with 2,000 housing units
• A boulevard, retail outlets, and endowment-owned commercial spaces

Together, these components will generate ongoing returns that will be reinvested into charitable initiatives in the UAE and beyond.

Sheikh Mohammed expressed his gratitude to all supporters and partners of the project, saying:

“Our thanks go to all philanthropic endowers, supporters, and contributors, foremost among them Azizi Developments and others, and our appreciation to everyone who strives for good and works to ensure its continuity in the nation of generosity and giving. May God accept from us and from you all good deeds.”

A culture of compassion

The announcement comes just a day after Sheikh Mohammed introduced the ‘Volunteering and Community Engagement Ecosystem’, a nationwide framework designed to strengthen the UAE’s nonprofit sector. The initiative aims to grow the country’s volunteer base to 600,000 individuals and has established a Dh100 million fund to support community-based projects.

Together, these efforts underscore Dubai’s continued commitment to building a legacy of generosity, sustainability, and social impact, values that remain central to Sheikh Mohammed’s vision for the UAE.

Good news for UAE residents and businesses. The UAE Central Bank has just lowered its Base Rate by 25 basis points, from 4.15% to 3.90%, effective this Thursday. This move follows the US Federal Reserve’s recent decision to cut its interest rates, keeping things in sync because of the UAE’s currency peg to the US dollar.

What does this mean for you? Expect borrowing to get a bit cheaper. Whether you’re eyeing a new mortgage, a personal loan, or business credit, the rates should ease up. In simple terms, monthly payments could get friendlier, especially for those with variable-rate loans.

This comes after the US Fed trimmed its federal funds rate to a range of 3.75% to 4%, hoping to support the job market and tackle stubborn inflation. The ripple effects are clear, softening employment numbers, and ongoing economic headwinds are pushing for these cuts.

Which sectors will benefit

For the UAE, lower interest rates could give a boost to sectors like real estate, tourism, and small businesses by making funding easier. But keep in mind, analysts say the impact might be modest unless the Fed decides to cut rates more aggressively in the future.

Why is the Fed making these rate cuts? Their goal is a tricky balance: tame inflation while keeping employment strong. With big companies cutting jobs and inflation still slightly above target, the Fed is playing it safe, using these rate cuts as insurance against a potential economic slowdown.

Future interest rates

Looking ahead, another cut might come in December, possibly bringing rates closer to 3% in 2026, but things could shift depending on economic data and new Fed leadership.

Stay tuned for more updates and how these changes could affect your wallet!