Geopolitical tensions and disruptions in the Strait of Hormuz push up oil prices, driving fuel prices worldwide and urging the UAE to follow suit.
Global Impact of the Fuel Price Surge
The fuel price surge has so far spread to Asia, Africa, Europe, and beyond, with many countries increasing petrol and diesel rates. The rises range from below 5% to more than 80% due to the conflicts among the US, Israel, and Iran and the closing of the Strait of Hormuz, one of the key channels for oil transportation worldwide.
Nations affected by Rising Fuel Costs
The most significant economies involved in this fuel price surge includes Pakistan, the Philippines, the United States, Australia, Cambodia, Chile, Denmark, Nigeria, Nepal, Canada, France, Germany, China, the United Kingdom, South Korea, Brazil, Japan, Vietnam, Laos, Sri Lanka, and South Africa.
European and regional countries like Finland, Austria, Egypt, Poland, Spain, North Macedonia, and Albania have also increased their fuel prices.
Extent of Price Increases Worldwide
However, this fuel price surge varies widely between regions. Europe registered an average of almost 12% from late February to mid-March, while the Philippines registered the highest increase- more than 80%- as of March 25 due to the escalating crisis in the Middle East.
Global Oil Prices Driving the Surge
This has kept the ongoing fuel price surge in tandem with rising global oil prices. Brent crude increased from $72.87 a barrel on February 27 to $114.7 a barrel on March 30- a 57% increase. This hike has directly translated into fuel prices worldwide.
UAE Fuel Pricing Policy and Other Changes
The UAE has fully deregulated its fuel prices since August 2015. It further primes its domestic petrol and diesel rates on a monthly basis based on the trend in the global fuels market. As the ongoing rise in global fuel prices, the UAE is also likely to announce its petrol prices for April 2026 on March 31.
In UAE also it is widely expected that fuel prices will rise, given the oil market trends, although official rates will soon be released.
Recent Fuel Price Adjustments in UAE
In March 2026, the UAE underlined the current fuel price surge by increasing fuel prices. Super 98 went up to Dh2.59 per liter from Dh2.45, while Special 95 increased to Dh2.48 from Dh2.33. E-Plus 91 hit Dh2.40 per liter, up from Dh2.26. Diesel also increased by Dh0.20 to Dh2.72 per liter.
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