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UAE fuel prices for May: Why petrol, diesel costs won't rise like it did in April

Gulf News: Latest UAE news, Dubai news, Business, travel news, Dubai Gold rate, prayer time, cinema·Justin Varghese·about 1 month ago
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Dubai: UAE motorists are unlikely to see a sharp drop in fuel prices in May, even as global oil markets attempt to stabilise after recent spikes. Crude has rebounded again—adding fresh upward pressure, though much of this move comes too late to significantly impact May fuel prices. Brent crude for June delivery is now at $107.60 per barrel, up about 2.2% The more actively traded July contract stands at $101.38, rising 2.3% Prices have climbed from roughly $70 before the conflict, with peaks above $119 during heightened tensions This marks a clear shift away from the earlier forecasted $90–$100 range, signalling that volatility is far from over. How UAE fuel costs will change The UAE sets fuel prices based on the average oil price over the previous month.…

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