Finance
UAE prepares July fuel price update as global oil hits $86
By 19Network Editorial Team · Jul 15, 2026 · 2 min read
The UAE fuel price committee prepares to announce July rates as global Brent crude benchmarks climb past $86 per barrel.
The UAE fuel price committee is expected to announce retail petrol rates for July within the next five days as global oil markets experience renewed volatility. Brent crude surged past $86 per barrel this week, driven by heightened geopolitical tensions in the Middle East and projections of a supply deficit during the third quarter of 2024. Global oil prices rebound International oil benchmarks have shifted higher since the last UAE price adjustment on June 1. Brent crude was trading near $80 per barrel at the start of June but has since climbed approximately 7% following reports of declining US crude inventories and forecasts from the International Energy Agency (IEA) indicating a tighter market. The UAE adjusts domestic fuel prices monthly to align with global benchmarks, though it does not follow a strict 1-to-1 correlation due to local operating costs and subsidies. For June, the UAE fuel price committee reduced prices across all petrol variants. Super 98 was set at Dh3.14 per litre, Special 95 at Dh3.02 per litre, and E-Plus 91 at Dh2.95 per litre. These represented decreases of roughly 20 to 21 fils compared to May rates. However, the recent upward momentum in global oil…