DUBAI: The residents of United Arab Emirates (UAE) are finding different ways to reduce their petrol consumption as fuel prices rise for the third month in a row.
Newly announced prices for April 2024 will be the highest in six months.
Prices have been increased by about 3.9% for April with Super 98 petrol priced at Dh3.15 per litre, Special 95 petrol at Dh3.03 and E-Plus 91 at Dh2.96 while Diesel prices have been revised to Dh3.09 per liter for April as against Dh3.16 in March.
Since the UAE govt announced the deregulation of retail fuel prices in 2015, prices are revised at the end of each month to align them with global rates.
These are the highest prices in the last 6 months, when Super 98, Special 95 and E Plus were selling at Dh3.44, Dh3.33 and Dh3.26 per liter in October 2023.
During March, Brent prices averaged around $84.25 a barrel compared to $81.3 in the previous month, an average price increase of $3 reflected in revised April prices.
Crude oil prices hit a four-month high in mid-March as the International Energy Agency forecast a tighter market and increased demand this year.
WTI and Brent ended the week at $83.17 and $87.0 per barrel.
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