UAE petrol price rise in April biggest so far this year
Motorists will pay an extra 9 per cent next month
Motorists in the UAE will pay more at the pumps in April after the new prices were announced by the fuel price committee.
Here's the breakdown:
• Super 98: up 19 fils to Dh2.23 per litre (up 9.85 per cent)
• Special 95: up 19 fils to Dh2.11 per litre (up 9.89 per cent)
• Diesel: up 8 fils to Dh2.49 per litre (up 3.3 per cent)
Fuel prices in the UAE were liberalised in August 2015, so they now move with the market.
The price for Special 95 was under Dh2 a litre earlier this year, but motorists have been paying 4 per cent more in March than February and April's rise will be the biggest so far this year.
Oil prices are up about 30 per cent this quarter after Opec and its allies embarked on a mission to curtail global output, while American sanctions on Iran and Venezuela have also supported higher prices.
Demand is less certain, with US and European indicators pointing to slowing economies and Washington and Beijing resuming high-level talks this week in a bid to defuse their ongoing trade dispute.
Brent for May settlement fell 73 cents to $67.10 on the London-based ICE Futures Europe exchange this morning, while West Texas Intermediate dropped 79 cents, or 1.33 per cent, to $58.62 on the New York Mercantile Exchange.
Updated: March 29, 2019 03:29 PM