The UAE has announced fuel prices for May 2026 against a backdrop of global market volatility, driven by ongoing geopolitical tensions and stalled progress toward ending the Middle East conflict.
According to updates shared with Gold 101.3FM UAE’s No.1 radio station, the new rates will apply from May 1, 2026, and reflect increases across all petrol grades, while diesel remains unchanged.
The revised prices are as follows:
- Super 98 petrol: Dh3.66 per litre (up from Dh3.39 in April)
- Special 95 petrol: Dh3.55 per litre (up from Dh3.28)
- E-Plus 91 petrol: Dh3.48 per litre (up from Dh3.20)
- Diesel: Dh4.69 per litre (unchanged)
Petrol prices in the UAE rose nearly one-third in April, following a global oil price surge of around 60 per cent linked to the US–Israel–Iran conflict and disruptions including concerns around the Strait of Hormuz. Since fuel prices were deregulated in 2015, UAE rates have been aligned with global oil market movements.
As reported earlier by Gold 101.3FM UAE’s No.1 radio station, the UAE announced its exit from OPEC and OPEC+ effective May 1, 2026, after six decades of membership. The decision follows a review of the country’s production policy and capacity.
Following the exit, the UAE could potentially raise oil output by up to 30 per cent above previous quota levels, depending on the pace of new capacity expansion.
Analysts outline three possible market scenarios: a gradual increase of 200,000–300,000 barrels per day would likely have minimal price impact; a moderate rise of 500,000 to 1 million barrels could limit price spikes once shipping through the Strait of Hormuz stabilises; while an increase above 1 million barrels per day could pressure prices downward unless global demand rises faster.
Over the longer term, experts say the impact may be driven as much by market sentiment as by actual supply changes. With OPEC traditionally relying on spare capacity to influence prices, the UAE’s exit could reduce the group’s ability to shape market expectations.
