Abu Dhabi: Global oil prices rose as oil producing countries cut production. Oil prices have increased by more than five percent in the UAE. The increased retail petrol prices will be effective from May. In April, the UAE, Russia, Algeria and Kazakhstan and the GCC countries announced oil production cuts of 1.64 million barrels per day. This is the reason for the rise in oil prices.
From May 1, the price of Super 98 petrol will increase by Dh3.16. The current rate was Dhs 3.01. The price of Special 95 petrol has been increased from 2.90 dinars to 3.05 dinars. The price of E-Plus petrol has been increased from 2.38 dinars to 2.97 dinars.
The new rates for May are the highest since 2023. After the Ukraine-Russia war, global oil prices have soared. By the middle of last year, petrol prices had crossed 4.5 dirhams per litre.
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2023-04-30 16:03:56
