Globally, oil prices traded higher in March 2024 as compared to the previous month on a tighter supply outlook and heightened geopolitical risk
The UAE’s Fuel Price Committee is set to announce petrol and diesel prices for the month of April soon.
The prices are revised to align with international rates at the end of every month,as part of the deregulation policy announced in 2015.
Petrol prices in the UAE rose for the second month on a trot in March 2024 with Super 98, Special 95 and E-Plus 91 selling at Dh3.03, Dh2.92 and Dh2.85 per litre.
Globally, oil prices traded higher in March 2024 as compared to the previous month on a tighter supply outlook and heightened geopolitical risk.
Crude prices settled at a four-month high during mid-March as the International Energy Agency projected a tighter market and also raised its own demand growth this year.
WTI crude was trading at $83.17 an ounce, up 2.24 per cent. While Brent was trading 1.86 per cent higher at $87.0.
Brent averaged around $84.25 a barrel in March 2024 as compared to $81.3 in the previous month. This $3 increase in average price in March is likely to be reflected in April prices which will announced either on Saturday or Sunday.
Residents in UAE and businesses look forward to monthly petrol and diesel rates to prepare their fuel budgets.
| Month | Super 98 | Special 95 | E-Plus 91 |
| January 2023 | 2.78 | 2.67 | 2.59 |
| February | 3.05 | 2.93 | 2.86 |
| March | 3.09 | 2.97 | 2.90 |
| April | 3.01 | 2.90 | 2.82 |
| May | 3.16 | 3.05 | 2.97 |
| June | 2.95 | 2.84 | 2.76 |
| July | 3.00 | 2.89 | 2.81 |
| August | 3.14 | 3.02 | 2.95 |
| September | 3.42 | 3.31 | 3.23 |
| October | 3.44 | 3.33 | 3.26 |
| November | 3.03 | 2.92 | 2.85 |
| December | 2.96 | 2.85 | 2.77 |
| January 2024 | 2.82 | 2.71 | 2.64 |
| February | 2.88 | 2.76 | 2.69 |
| March | 3.03 | 2.92 | 2.85 |
Source: khaleejtimes