The fuel price committee for the United Arab Emirates is scheduled to release the prices for gasoline and diesel in April. As part of the deregulation program announced in 2015, the prices are adjusted at the end of each month to reflect international rates.
March 2024 saw higher oil prices globally than the previous month due to tighter supply forecasts and increased geopolitical risk.
Globally, oil prices traded higher in March 2024 than the previous month on a tighter supply outlook and heightened geopolitical risk.
The International Energy Agency forecast a tighter market and increased demand growth for this year, which led to the settlement of crude prices at a four-month high in mid-March. WTI crude was up 2.24 percent at $83.17 per ounce. At $87.0, Brent was trading 1.86 percent higher.
In March 2024, the average price of Brent was approximately $84.25 per barrel, down from $81.3 the month before. The March average price increase of $3 will probably be mirrored in the April prices, which will be revealed on Saturday or Sunday.
Businesses and UAE residents eagerly await the monthly rates for gasoline and diesel so they may plan their fuel expenditures.
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