UAE petrol prices: Will fuel rates drop in April?
Monthly price of $70.93 in March was just below February's price of $75. The supply of new petrol prices in the UAE for the coming month, is expected to be lowered. Every month, announcement of new rates is made by the UAE government on the last day of the month.
Super 98 cost Dh2 back in March. Dh2.73 per litre for Special and Dh2. 61 and E-Plus at Dh2. 54. Brent was at $74.11 per barrel and WTI at $70.01 a barrel in early trade on Friday, globally.
Joseph Dahrieh, managing principal at Tickmill, said crude oil may become more volatile as traders digest geopolitical risks surrounding the latest global events.
Recent developments such as US tariffs on countries purchasing Venezuelan oil and fears over the broader impact of trade fight on the economy, threaten to crimp global demand, with the market reacting accordingly.
Here, in this regard, the unknown of the possible decline of Venezuelan oil exports could tighten supply more in the near term somewhat. Likewise, sanctions on Iranian crude could play a role in a possibly tighter market. Dahrieh also added: "But higher crude prices could continue to be pressurized by fears of an economic slowdown from trade tariffs raising cost.”
On the other hand, the flow in change Opec+ crude production can impact the market. The boost in oil production from the organisation should limit prices even more. Still, efforts by the group to rein in oversupply from recalcitrant members may offer a price floor.
Oil prices recovered somewhat over the last fortnight, having been under pressure for weeks. Both benchmarks gained more over the week, with the recovery representing a substantial change to market sentiment.
George Pavel, Naga's general manager Middle East. com, adding that tensions in the region helped back oil prices.
With the US military targeting Houthi rebels in the Red Sea and Israel increasing its strikes on Gaza, we are not exactly looking for more agitation in the region. “When peace talks do work, there could be a counterbalance from Russia-Ukraine tensions, defining more volatility too, along with the tariff imposed by US on Venezuelan oil buyers effective on Apr 02 2025 which continued sending ripples in global oil markets,” he said.
Traders are now worried about this alongside former sanctions on the Russian and Iranian oil manufacturers, he stated.
|
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 |
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