Amid a global surge in crude, the United Arab Emirates (UAE), one of the largest oil-producing nations, has raised the domestic fuel prices for the month of June.
The price of petrol has been hiked sharply by more than 13 percent, a rate card issued by the Emirati government shows.
Super 98 petrol, one of the widely used categories of the fuel, will now be sold at Dh4.15 a litre, 13.4 percent higher as compared to Dh3.66 a litre last month.
The price of Special 95 petrol has been increased from Dh3.55 to Dh4.03 a litre, marking a surge of 13.5 percent. E Plus 91, another highly used category of petrol in the domestic market, will now cost Dh3.96 a litre, which is 13.8 percent higher as compared to Dh3.48 in May.
Diesel price is up 1.5 percent. A litre of the fuel will cost Dh4.14 against Dh4.08 in May .
Petrol & Diesel Rates Aug 11, 2022
— Emarat (امارات) (@EmaratOfficial) May 31, 2022
Fuel prices have been consistently raised in the UAE since February, when the outbreak of the Russia-Ukraine war sent prices rocketing.
A litre of petrol cost as low as Dh2.46 in January. Prices were raised by around 10 percent each in February and March, followed by a hike of nearly 16 percent in April.
Diesel has also cumulatively gone up by over 60 percent in the past five months. A litre of it cost Dh2.56 in January.
Crude breached the $100-mark in the international market soon after the Russian forces launched an invasion of Ukraine on February 24 and prices soared further after the US and allies slapped sanctions against Moscow.On May 31, the Brent crude breached the $120-mark before settling at $115.60. US West Texas Intermediate crude had soared to $119.98 but closed at $114.67.