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UAE: Rise in petrol numbers for May due to Iran-Israel conflict?

Following a $3 per barrel average global price increase in March, petrol numbers for April increased by 12 fils per liter in the UAE.

The United Arab Emirates will release the petrol numbers for May 2024 on Tuesday to match the global rates. It is anticipated that the local petrol prices may increase in the coming month as the global oil prices have gone up due to the military conflict between Iran and Israel in April. This has resulted in Brent crude oil crossing the $90 per barrel mark.

In mid-April, the petrol numbers remained stable at $90 before dropping to $86 in the third week of the month. However, by the end of last week, they had risen once again to $89.5.

During April 2024, petrol numbers increased by an average of $4.53 per barrel compared to the previous month. In March, Brent averaged $84.26 per barrel, while in April, it averaged $88.79 per barrel.

The petrol numbers in the UAE have increased for the third consecutive month in April. The prices for Super 98, Special 95, and E-Plus 91 are now Dh3.15, Dh3.03, and Dh2.96 per liter, respectively. This increase of 12 fils per liter in April is due to the average global price increase of $3 per barrel in March.

Transport companies as well as motorists who drive around quite often, due to the nature of their work, look forward to price adjustments in the UAE.

The average price of Dh3.03 in UAE is lower than the global average of Dh4.93 a liter.

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