Motorists in the United Arab Emirates are bracing themselves for a major price hike to fuel prices – with petrol “soaring” to 28 pence per litre.
While a litre of unleaded on a UK forecourt typically costs a £1, UAE drivers have been told they will have to cough up AED1.44 (Emirati Dirham) – for their E-plus unleaded, 11.6% more than at present.
The increase is the first price hike since the government liberalised petrol pricing last autumn.
The increases for April, which were announced the UAE’s Minister of Energy, are all in double-digit percentages.
The price of Super 98 is rising 10.2% to Dh1.62 per litre.
Special 95 is up 11% at Dh1.51.
Diesel will go up 11.4% to Dh1.56 per litre.
Even with the increase, the prices are still lower than the subsidised rates before last August, .
Global oil prices have been in a long and sharp decline since 2014.
In the UK, the Government place a fuel duty of 57.95 pence per litre, a standard rate of 20% VAT is also part of the overall price at the pump.