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UAE announces petrol and diesel prices for March 2026: Are drivers paying the war tax amid Iran and US–Israel clashes? – The Times of India
The United Arab Emirates Fuel Price Committee has released its official fuel price updates for March 2026, giving motorists a clear picture of how much they will be paying at the pump for petrol and diesel this month. The monthly revision, which takes effect from March 1, 2026, reflects shifts in global crude oil markets and aligns local retail prices with international trends, as part of a pricing regime introduced when the UAE deregulated fuel prices in 2015.
UAE’s new fuel prices for March 2026 amid Iran and US–Israel clashes
Here’s how the UAE petrol and diesel prices stack up for March –
- Super 98 petrol: Dh 2.59 per litre (up from Dh 2.45 in February)
- Special 95 petrol: Dh 2.48 per litre (up from Dh 2.33)
- E-Plus 91 petrol: Dh 2.40 per litre (up from Dh 2.26)
- Diesel: Dh 2.72 per litre (up from Dh 2.52)
These increases end a brief period of cheaper fuel at the start of 2026, when prices had dipped in January and February following earlier declines. The committee reviews fuel prices monthly to reflect average international oil prices and the costs associated with refining and distribution.
Why fuel prices in the UAE increased: Global oil market context amid Iran and US–Israel clashes
The rise in local pump prices for March comes amid broader global oil price pressures, partly driven by geopolitical tensions in the Middle East, especially the recent escalation involving Iran, the United States and Israel, which have pushed crude prices up in recent weeks. These tensions can heighten a geopolitical risk premium in oil markets, meaning traders factor in extra costs due to supply disruption fears, particularly around strategically important chokepoints like the Strait of Hormuz, through which about a fifth of global crude oil passes.
UAE Fuel Prices March 2026: Petrol and Diesel Costs Rise Amid Global Oil Pressures
In addition, crude oil benchmarks such as Brent have been trending higher compared with the months that underpinned February’s fuel prices, nudging the committee toward a modest upward adjustment at the pump.
How UAE’s monthly fuel pricing system works
Since 2015, the UAE has used a market-linked fuel pricing mechanism. Under this system:
- Oil prices are averaged over the month preceding the pricing decision.
- The government adds refining, distribution and retail costs to set local prices.
- These adjusted rates are then announced at the end of each month and apply for the following month.
This approach ensures that UAE petrol and diesel prices reflect actual global supply and demand dynamics rather than being fixed — a policy that both informs consumers and aligns local fuel costs with international benchmarks.
What it means for drivers in the UAE
For everyday motorists and commercial transporters in the UAE, slightly higher fuel costs mean filling up a typical compact car will cost more than last month. Diesel-powered vehicles, widely used in logistics and trucking, will also face marginally increased costs. Monthly budget planning may need to accommodate these shifts, especially if crude prices remain elevated.While the hike in March is not a dramatic leap, it reflects how closely UAE fuel prices are tied to global oil market moves, which in turn respond to factors such as geopolitical events, seasonal demand and production decisions by major oil-producing countries.
UAE Fuel Prices Surge: Geopolitical Tensions Drive Up Costs for Drivers
Fuel prices in the UAE are expected to continue reflecting global crude dynamics in the coming months. If geopolitical tensions ease or global oil supply increases, pump prices might stabilise or even head lower again later in 2026. Conversely, further upward pressure on crude could lead to higher fuel rates in April and beyond.For now, drivers in the Emirates should prepare for a slight increase at the pump but also keep an eye on international news and oil markets, as these will shape future pricing decisions. UAE fuel prices rose in March 2026, with petrol and diesel up across all major grades. Super 98 is Dh 2.59/litre, Special 95 is Dh 2.48, and diesel is Dh 2.72. Price changes reflect global oil market trends, influenced by geopolitical risk and crude cost movement. Fuel pricing in the UAE is reviewed monthly under a market-linked system introduced in 2015.
Oil prices remained below $100 a barrel on Friday as Wall Street set another record and Asian stocks headed for a second consecutive week of strong gains, with markets watching for signs that the Iran war ceasefire expiring next week would be extended.
Brent crude fell 1.1 per cent to $98.31 a barrel and US benchmark crude dropped 1.4 per cent to $89.90, after Donald Trump said the next meeting between the US and Iran could take place over the weekend and suggested he was open to extending the two-week ceasefire beyond its expiry next week.
Iran’s UN envoy said Tehran remained “cautiously optimistic” over negotiations with the US. A 10-day ceasefire between Lebanon and Israel also went into effect on Thursday.
Asian markets pulled back on Friday despite Wall Street setting another record the previous session. Tokyo’s Nikkei fell 1 per cent to 58,930 after hitting an all-time high on Thursday. South Korea’s Kospi was 0.6 per cent lower, Hong Kong‘s Hang Seng dropped 1 per cent and the Shanghai Composite edged down 0.1 per cent. Australia’s S&P/ASX 200 lost 0.3 per cent and Taiwan’s Taiex traded 0.5 per cent lower.
MSCI‘s broadest index of Asia-Pacific shares outside Japan remained close to its highest level since 2 March, the first trading day after the Iran war broke out. The index is up 14.5 per cent in April after dropping 13.5 per cent in March, with almost all stock markets now back to pre-war levels.
On Wall Street, the S&P 500 closed 0.3 per cent higher at 7,041 on Thursday, a day after eclipsing its previous all-time high set in January. The Dow Jones Industrial Average rose 0.2 per cent to 48,578 and the Nasdaq added 0.4 per cent to 24,102.
However, the speed of the recovery has surprised some analysts, who warned markets may be underpricing the risks.
“There’s quite a strong contrast between what policymakers and central bankers are saying about the risks that this conflict is creating versus what the market is implying,” Andrew Chorlton, chief investment officer for public fixed income at M&G, told Reuters.
“That seems somewhat complacent. It seems unlikely that there shouldn’t be some additional risk premium priced in, either to growth or to inflation.”
Others pointed to the strait as the critical test for whether the rally could hold.
“I think equity markets are remaining positive and some solid US earnings have helped, but — and it’s a big but — we need to see some concrete evidence that peace is going to last,” Nick Twidale, chief market strategist at ATFX Global, told Reuters.
“A full reopening of the Strait, or we could see some substantial corrections in global stocks in the coming days and weeks.”
The stakes on the energy side are rising. The head of the International Energy Agency warned on Thursday that Europe had “maybe six weeks or so” of jet fuel supplies remaining and that flight cancellations were coming “soon”.
The closure of the Strait of Hormuz has caused the worst oil price shock in history — Brent crude has surged roughly 40 per cent since the start of the Iran war in late February — and prompted the IMF to downgrade its global growth outlook, warning that a prolonged conflict could push the world to the brink of recession.
The US dollar, which had benefited from safe-haven demand in March, has since given up those gains, with the dollar index near its lowest level since 2 March after eight straight sessions of decline. The euro held at $1.1778 while the Australian dollar, considered a risk-sensitive currency, drifted near a four-year high. Gold edged up 0.1 per cent to $4,814.60 an ounce and silver gained 0.4 per cent to $79.04.
Business
Top stocks to buy today: Stock recommendations for April 17, 2026 – check list – The Times of India
Stock market recommendations: Reliance Industries, and Varun Beverages are the top stock recommendations by Bajaj Broking Research for April 17, 2026.Reliance IndustriesBuy in the range of ₹ 1330.00-1350.00
Reliance Industries stock has undergone a corrective phase over the past three months and is currently consolidating near a crucial support zone of ₹1270–₹1300. This technical setup offers a favorable risk-reward profile, positioning the stock for a potential bullish reversal and the next leg of uptrend.This ₹1270–₹1300 range serves as a crucial support area, reinforced by the convergence of multiple technical factors: (a) 61.8% retracement of the previous April 2025-January 2026 up move (1115-1611) (b) 200 weeks EMA placed around 1292, which has historically acted as strong demand area for the stockThe ongoing corrective phase appears to be nearing exhaustion, with price action indicating the potential for a fresh bullish reversal. We anticipate the stock to resume its uptrend and head towards ₹ 1474 levels in the coming quarters being the high of February 2026 and the 61.8% retracement of the recent decline of the last 3 months ₹ 1611-1290.Varun BeveragesBuy in the range of 455-465
The share price of Varun Beverages has generated a breakout above the falling channel containing last 3 months decline signaling strength and offers fresh entry opportunity.The stock has also formed a higher high and higher low signaling resumption of up move after recent corrective decline.We expect the stock to head higher towards 503 levels in the coming weeks being the 80% retracement of the previous decline from 534 to 381.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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