UAE petrol, diesel prices for May 2026 announced

The UAE has set fuel prices for May 2026 against a backdrop of global market volatility, driven by stalled progress toward ending the Middle East conflict.

The new rates listed below will apply from May 1, 2026, and are as follows:

• Super 98 petrol will cost Dh3.66 a litre, compared to Dh3.39 in April.

• Special 95 petrol will cost Dh3.55 per litre, compared to the current rate of Dh3.28.

• E-Plus 91 petrol prices will cost Dh3.48 per litre, compared to the previous rate of Dh3.20 a litre.

• Diesel rate remains unchanged at Dh4.69 a litre

Petrol prices in the UAE increased by nearly one-third in April, following a nearly 60 per cent global rise in oil prices due to the US-Israel-Iran military conflict and the closure of the Strait of Hormuz. In the UAE, petrol prices were deregulated in 2015 to align them with the international rate.

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As reported earlier by Khaleej Times, the UAE on April 28 announced its decision to exit the Opec and Opec+, effective May 1, 2026. The decision, which comes after six decades of being a part of the organisation, was made after the nation's production policy and its capacity was reviewed.

After Opec departure, the UAE could eventually increase output by up to 30 per cent above previous quota-constrained levels, depending on how quickly new capacity is deployed.

There are three possible outcomes for the oil market under the scenario. First, a gradual supply increase of 200,000 to 300,000 barrels per day would likely have little effect on prices. Second, a moderate rise of 500,000 to 1 million barrels per day could limit price rallies once shipping through the Strait of Hormuz returns to normal. If supply rises by more than 1 million barrels per day, prices may fall unless demand grows much faster. In the long run, the effect could be as much about market sentiment as actual supply.

Opec has traditionally depended on spare capacity to influence the market, so losing a major contributor could weaken its ability to guide expectations.