What UAE residents will pay for petrol in March

Abu Dhabi: The Ministry of Energy increased fuel prices for March.

Diesel will be costlier by 2 fils and petrol by 3 fils, the Ministry of Energy said on its website on Monday.

The new per-litre fuel prices for March are:

Super 98 — Dh2.03, up from Dh2.00 in February; 

Special 95 — Dh1.92, up from Dh1.89; 

E Plus-91 — Dh1.85, up from Dh1.82; and

Diesel — Dh2.02, up from Dh2.00.
 

Fuel prices are linked to international oil prices which are currently trading higher following a historical agreement between Opec (Organisation of Petroleum Exporting Countries) and non-Opec countries to cut production by about 1.8 million barrels per day to stablisie oil prices. 

The agreement, which is valid for six months, came into effect from January 1 this year.

The global benchmark Brent crude was trading at $56.65 per barrel and the US crude West Texas Intermediate at $54.47 per barrel on Monday at around 2:15 pm.

The new fuel prices will come into effect from March 1. This is the third time in a row that fuel prices have gone up in the UAE.