More pain at petrol pump; fuel prices hiked as global oil prices rise

ABU DHABI: The United Arab Emirates has raised fuel prices following a renewed escalation of the conflict in West Asia. This is the second consecutive month that the country has increased petrol and diesel prices.

The price of diesel has been increased by 50 fils per litre (around Rs 13), taking the price to 4 dirhams and 30 fils (around Rs 112) per litre. The latest revision comes amid renewed tensions between the United States and Iran, with Brent crude prices rising above $90 a barrel in the global market.

Petrol prices have been increased by 20 fils per litre (around Rs 5). With the latest revision, the price of Super 98 petrol will rise from 3 dirhams and 60 fils (around Rs 93) to 3 dirhams and 80 fils (around Rs 98) per litre. The new rates will come into effect from September 1.

The UAE Fuel Price Committee said the prices were set under the country's monthly fuel pricing mechanism, which tracks movements in global energy prices and reflects changes in the domestic market.