Dozens of nations report fuel hikes of up to 80% as Brent crude surges 57% in one month; UAE petrol prices expected to rise when new rates are unveiled on March 31.
DUBAI — Retail fuel prices have surged across Asia, Africa, Europe, and beyond, with increases ranging from under five per cent to more than 80 per cent, as geopolitical tensions in the Middle East disrupt global energy markets.
The sharp upward spiral follows the ongoing US-Israel-Iran military conflict and the closure of the Strait of Hormuz—a critical chokepoint for global oil shipments—which has sent crude prices soaring.
Dozens of nations have raised petrol and diesel prices in response. Major countries reporting hikes include:
- Asia: Pakistan, the Philippines, China, Japan, South Korea, Vietnam, Laos, Sri Lanka, Nepal, Cambodia
- Americas: United States, Canada, Brazil, Chile
- Europe: United Kingdom, France, Germany, Spain, Finland, Austria, Poland, Denmark, North Macedonia, Albania
- Africa: Nigeria, Egypt
- Oceania: Australia
According to data as of March 25, the Philippines recorded the steepest increase, with oil prices climbing over 80 per cent due to the Middle East conflict.
In Europe, fuel prices rose by an average of 12 per cent between late February and mid-March.
UAE Awaiting March 31 Announcement
Motorists in the UAE are now awaiting the official fuel price announcement for April 2026, scheduled for March 31. The UAE deregulated petrol and diesel prices in August 2015, allowing domestic rates to fluctuate in line with global market trends.
Global oil prices have risen dramatically over the past month. Brent crude stood at $72.87 per barrel on February 27 but surged to $114.70 per barrel on the morning of March 30—an increase of more than 57 per cent.
Given this trajectory, fuel costs at UAE service stations are widely expected to rise. However, the official rates will be confirmed tomorrow, in line with the country’s policy of revising prices on the last day of each month.
For context, the UAE increased fuel prices by approximately Dh0.14 per litre in March 2026. Current rates stand at:
- Super 98: Dh2.59 per litre
- Special 95: Dh2.48 per litre
- E-Plus 91: Dh2.40 per litre
- Diesel: Dh2.72 per litre
