The United Arab Emirates recorded the significant surge in fuel prices, impacting consumers across the country.
Under the new rates, Super Petrol now costs AED 3.39 per liter, up from AED 2.59. Special 95 Petrol has increased from AED 2.48 to AED 3.28 per liter, and E-Plus 91 Petrol is now AED 3.20 per liter, up from AED 2.40.
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Diesel has seen the highest hike, with prices climbing from AED 2.72 to AED 4.69 per liter. This sharp increase is expected to significantly affect both consumers and businesses across the UAE.
Fuel prices have spiked sharply following a notable rise in global oil markets, which have surged by approximately 40% in recent weeks.
This increase is mainly fueled by geopolitical tensions in the Middle East, especially the ongoing conflict involving the US, Israel, and Iran that started on February 28, causing widespread disruption in energy markets.
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Worries over supply have grown after the closure of the Strait of Hormuz, a crucial energy corridor that handles about 20% of the world’s daily oil flow.