By Staff Reporter
Petrol prices in the UAE are expected to decline in April as global crude prices remained subdued in March.
Brent crude averaged $70.93 per barrel in March, down from $75 in February, influencing domestic fuel price adjustments. The UAE government, which announces revised fuel prices at the end of each month, is anticipated to reduce rates accordingly.
In March, petrol prices stood at Dh2.73 per litre for Super 98, Dh2.61 for Special 95, and Dh2.54 for E-Plus 91. With oil prices stabilizing at lower levels, consumers may see relief at the pump in the coming month.
Global Factors Influencing Prices
Oil markets have been navigating volatility driven by geopolitical developments and economic uncertainty. Joseph Dahrieh, managing principal at Tickmill, highlighted the impact of recent US tariffs on Venezuelan oil buyers and ongoing trade tensions, which have clouded demand outlooks.
Meanwhile, OPEC+ is expected to increase crude production, which could further weigh on prices. However, the group’s efforts to manage overproduction may prevent a steep decline.
Geopolitical Uncertainty Adds to Market Volatility
Escalating tensions in the Middle East have provided temporary support for oil prices. US military strikes against Houthi rebels in the Red Sea, Israeli operations in Gaza, and the ongoing Russia-Ukraine conflict have heightened market concerns. According to George Pavel, general manager at Naga.com Middle East, potential peace talks in Ukraine could offset some of these risks.
Despite recent rebounds, the market remains unpredictable. With new US tariffs on Venezuelan oil set to take effect on April 2, global crude prices could see further fluctuations.
Month Super 98 Special 95 E-Plus 91
Jan-24 2.82 2.71 2.64
February 2.88 2.76 2.69
March 3.03 2.92 2.85
April 3.15 3.03 2.96
May 3.34 3.22 3.15
June 3.14 3.02 2.95
July 2.99 2.88 2.8
August 3.05 2.93 2.86
September 2.9 2.78 2.71
October 2.66 2.54 2.47
November 2.74 2.63 2.55
December 2.61 2.5 2.43
Jan-25 2.61 2.5 2.43
February 2.74 2.63 2.55
March 2.73 2.61 2.54
News Source: Khaleej Times
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