The fuel prices in UAE are soaring rapidly owing to the rise in global crude oil prices following the Russia-Ukraine tensions. The petrol price in the United Arab Emirates (UAE) has gone up beyond three dirhams, for the first time in history.
As per the new rates, petrol super litre will cost 3 dirham 23 fils and special litre will cost 3 dirham 12 fils. A price hike of 11 percent has been recorded in comparison with last month’s rate. There has been a sharp rise in the fuel prices globally, in the wake of the Russian invasion.
The crude oil price had earlier rose to 105 dollars per barrel and then fell to 100 dollars per barrel. The fuel prices in the UAE have remained stable since the Covid spread. The Organization of the Petroleum Exporting Countries (OPEC) will hold a meeting on March 2, to discuss the price surge.
Gold prices are also rising in the international market and has currently reached 1970 dollars, the highest price in two years. Crude oil prices have hit 100 dollars per barrel.
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