Global oil prices are hovering near their 2022 peaks, when the Russia-Ukraine conflict pushed UAE fuel prices to a record Dh4 per litre.
The UAE is set to release April 2026 petrol prices on March 31.
With global oil prices trading near their highest levels since the 2022 Russia‑Ukraine war — when fuel in the UAE hit a record Dh4 per litre — and geopolitical tensions adding a risk premium to crude, fuel prices in the UAE are widely expected to rise when new rates are announced on March 31 for April 2026.
Brent crude oil has surged 54 per cent — or $39.32 per barrel — over the past three weeks, climbing from $72.87 at the end of February to $112.19 per barrel by March 20. Prices briefly touched over $118 per barrel last week amid the ongoing Middle East military conflict.
Crude levels are approaching those seen during the Russia‑Ukraine war, when Brent traded near $125 per barrel. At that time, UAE petrol prices rose sharply, with Super 98 reaching Dh3.74 per litre and Special 95 hitting Dh3.62 in April 2022. By June 2022, prices surpassed Dh4 per litre as the Russia‑Ukraine war escalated.
Reflecting global trends, the UAE increased fuel prices in March 2026. Super 98 petrol rose from Dh2.45 to Dh2.59 per litre, Special 95 from Dh2.33 to Dh2.48, and E‑Plus 91 from Dh2.26 to Dh2.40 per litre. Diesel was also raised by Dh0.20 to Dh2.72 per litre. Official petrol and diesel prices for April will be announced on March 31.
The average Brent price in the first three weeks of March 2026 exceeded $92, up from $68.92 in February, driven by the Middle East conflict involving the US, Israel, and Iran. The situation intensified after the Strait of Hormuz was closed to shipping, affecting roughly 20 per cent of global oil flow daily, and as energy infrastructure in Iran and Qatar was targeted, adding to supply concerns.
Global oil prices continued to rise on Monday morning as the conflict escalated, maintaining pressure on fuel markets worldwide.
