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Fuel price hike: Dozens of nations increase rates; UAE to announce on March 31
Retail fuel prices have been increased across Asia, Africa, Europe and other regions, with increases ranging from less than five per cent to over 80 per cent, driven by the ongoing regional conflict
- PUBLISHED: Mon 30 Mar 2026, 8:04 AM UPDATED: Mon 30 Mar 2026, 11:56 AM
[Editor's Note: Follow Khaleej Times live blog amid US-Israel-Iran war for the latest regional developments.]
Dozens of countries have raised petrol and diesel prices following the US-Israel-Iran military conflict and the closure of the Strait of Hormuz, which triggered a sharp increase in global oil prices.
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Major countries reporting fuel price hikes include Pakistan, the Philippines, the US, Australia, Cambodia, Chile, Denmark, Nigeria, Nepal, Canada, France, Germany, China, the UK, South Korea, Brazil, Japan, Vietnam, Laos, Sri Lanka and South Africa.
Additional countries that have raised fuel prices include Finland, Austria, Egypt, Poland, Spain, North Macedonia and Albania.
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Price increases across these countries range from less than five per cent to more than 80 per cent. Europe recorded an average fuel price increase of around 12 per cent between late February and mid-March.
As of March 25, the Philippines has recorded the highest increase of over 80 per cent in oil prices due to the Middle East conflict.
Will petrol prices in the UAE rise?
The UAE deregulated petrol and diesel prices in August 2015 to align domestic rates with global markets.
Global oil prices rose from $72.87 per barrel for Brent on February 27 to $114.7 per barrel on March 30 morning – an increase of over 57 per cent.
The UAE is set to announce petrol prices for April 2026 on March 31, in line with its policy of revising rates on the last day of each month.
Given the rise in global oil prices, fuel costs at UAE petrol stations are expected to increase. However, the official rates will be confirmed tomorrow.
In March 2026, the UAE increased fuel prices by approximately Dh0.14 per litre in line with global market trends.
Super 98 rose to Dh2.59 per litre from Dh2.45 in February, while Special 95 increased to Dh2.48 from Dh2.33. E-Plus 91 was priced at Dh2.40 per litre, up from Dh2.26 the previous month. Diesel prices also rose by Dh0.20 to Dh2.72 per litre.
