Petrol prices in the UAE are set to rise in February 2025, as global oil prices continue to climb. The increase, attributed to global uncertainties, is primarily driven by factors such as US President Donald Trump's policies, tariffs, and US sanctions on Russian crude exports. With oil prices now rising above $81 a barrel, these geopolitical factors are expected to impact the UAE's monthly petrol price adjustments.

UAE’s monthly petrol price adjustments reflect global market fluctuations

Since the deregulation of petrol prices in 2015, the UAE has aligned its fuel prices with global oil price shifts. January 2025 saw the lowest petrol prices in the past year, but the rising global oil costs are expected to push the UAE's petrol prices higher in February 2025. The global uncertainties surrounding US-Russia relations and their impact on the oil market are driving the price hike.

Impact of rising global oil prices on India’s petrol prices

As one of the largest oil importers, India is also likely to see an increase in petrol prices. The global rise in oil prices, influenced by the US sanctions on Russian oil exports, will impact India’s import costs. Additionally, the disruption of Russian oil exports may force India to source crude from more expensive regions like the Middle East, Africa, and the Americas, further driving up fuel prices in India.

While the rise in UAE petrol prices does not directly determine India's fuel costs, the global increase in oil prices is expected to have a ripple effect on India’s petrol pricing in the coming months.