UAE petrol prices jump 30% in response to Iran war
UAE petrol prices increased more than 30 per cent today with diesel soaring 72 per cent, one month into the Middle East war.
Monthly rates set by the UAE’s fuel price committee put petrol up 31-33 per cent for April, with the highest grade at 3.39 AED ($0.92). Diesel, commonly used by trucks and buses, rose to 4.69 AED ($1.28) per litre.
Iran, the UAE’s near neighbour across the Strait of Hormuz, has targeted the major oil producer with daily drone and missile attacks since February 28.
The strait, which normally carries about 20 per cent of global oil production from the Gulf, is largely closed under the threat of Iranian attacks, sending prices per barrel soaring.
Petrol, up sharply around the world, also rose in other Gulf countries. In Kuwait, another OPEC oil producer, high-grade petrol is up 12.5 per cent for April, while Qatar’s standard gasoline lifted 7.9 per cent.