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Over 4% climb in UAE petrol prices in March

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The UAE has amplified petrol prices by approximately 4.5 percent for the month of March, subsequent to price cuts in January and February, the country’s fuel price committee has publicized.

The per liter price for Super 98 has been set at Dhs2.04, up 4.6 percent from Dhs1.95 in February and while the cost for Special 95 has been increased by 4.3 percent to Dhs1.92 from Dhs1.84 previous month.

The value of diesel has risen by 5.7 percent to Dhs2.41 per liter contrasted to Dhs2.28 last month.

All rates are inclusive of VAT.

The UAE links fuel prices to movements in global oil rates, which have mounted sharply in the past few weeks.

On Monday, Donald Trump stated on Twitter: “Oil prices getting too high. OPEC, please relax and take it easy. The world cannot take a price hike – fragile!”

As a response, the Saudi energy minister Khalid al-Falih was quoted on Wednesday that the Organization of the Petroleum Exporting Countries (OPEC) and its partners were “taking it easy”.

OPEC, along with other oil producers comprising of Russia decided in December to decrease supply by 1.2 million barrels in a day from January 1 for six months.

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