Motorists in the UAE are facing a significant financial hit this June as petrol prices have climbed by approximately 8%, reaching levels not seen since August 2022. The price hike is largely attributed to instability in the Middle East and the closure of the Strait of Hormuz, which have sent global oil markets into a tailspin. As a result, Super 98 has risen to Dh3.95 per litre, Special 95 to Dh3.83, and E-Plus to Dh3.76, marking a sharp month-on-month increase that reflects the volatile nature of global energy costs since the UAE moved to deregulate fuel prices in 2015.

The current market environment remains tense as Brent crude prices continue to trade in the $90s per barrel. Experts point to ongoing geopolitical friction, including regional military activity and restricted shipping routes, as primary drivers for the tightening supply. With US crude inventories also experiencing drawdowns, the pressure on energy cargo flows remains elevated. While prices have retreated slightly from the highs seen earlier in May, the combination of regional blockades and security concerns ensures that transportation costs and fuel prices remain under substantial upward pressure for the foreseeable future.