UAE fuel prices to increase in March 2017
Super 98 Octane and diesel will cost more than AED2 per litre as "positive indicators" are witnessed in the global crude sector
Fuel prices are set to increase in the UAE from 1 March, 2017.
Super 98 octane and diesel will cost more than AED2 per litre during the month, with their values set at AED2.03 and AED2.02, respectively.
This marks 1.5% and 1% hikes over their prices for February 2017, according to data published by the Ministry of Energy and Natural Resources (MOENR).
Super 91 (E Plus) and Special 95 will cost AED1.85 and AED1.92 per litre, respectively.
E Plus was priced at AED1.82 per litre in February, while Special 95 cost AED1.89 per litre.
The rise in fuel values is driven by a recovery underway within the global oil market, with Brent Crude currently priced at $56.15 per barrel.
Ahmed Mohammed Al Kaabi, assistant under-secretary for the oil and gas industry and mineral resources at the UAE's energy ministry, and the UAE Governor for Organisation of the Petroleum Exporting Countries (OPEC), said oil markets are "currently steady".
Speaking to WAM, Al Kaabi added that "positive indicators" are visible in the global oil sector.