The Committee for Setting Petroleum Derivatives Prices in the United Arab Emirates announced an increase in fuel prices for the month of April 2024, coinciding with the continuation of global oil prices above the barrier of $80 per barrel.

The increase in gasoline prices ranges between 11 and 12 fils per liter, while the price of diesel decreased by 7 fils. This increase comes after fuel prices rose last March, for the second time in 2024.

The increase is attributed to several factors, the most important of which is the rise in global oil prices, as Brent crude prices reached $86 per barrel in March, supported by production cuts by Saudi Arabia and OPEC+ countries.

The committee confirmed that the new fuel prices come after a comprehensive study of average global oil prices and other factors such as the operating cost of distribution companies and the amount of profit achieved.

The new fuel prices will apply in the UAE from April 1 until April 30, 2024.