Latest news with #petrolprices
The Sun
08-07-2025
- Business
- The Sun
Petrol rockets to highest price in MONTHS with fears it could hit 150p per litre
PETROL prices in the UK have jumped to their highest level since April, sparking fears they could climb even higher. The average petrol price at the pump is now 133.19p per litre, up from 132.95p in June, according to the Department for Energy Security & Net Zero. 1 Diesel prices have also risen to 140.58p per litre, up from 140.26p last month - the highest level since April 28. Experts warn that escalating conflict in the Middle East could push prices even higher, with some predicting petrol could hit 150p per litre. Tensions between Israel and Iran, along with US military action in the region, have already caused the price of crude oil to spike. After reaching nearly $79 a barrel in late June, oil prices now sit just under $70. However, further unrest could see the cost soar again. Tony Redondo, who runs Cosmos Currency Exchange, says petrol prices could shoot up if oil hits $100 a barrel. He explained that oil prices have already gone up by 3% in the last two weeks because of trouble in the Middle East and shops charging more to cover their costs. "There is also speculation that fuel duty may be increased for the first time since 2011 in October's budget, even though taxes already account for 60% of petrol prices at the pump. "Prices could rise to 150 per litre if oil prices rocket to $100 if the Iran-Israel conflict reignites or Iran closes the Straits of Hormuz," he added. However, Samuel Mather-Holgate, an Independent Financial Adviser at Mather and Murray Financial, pointed to potential US motives behind higher oil prices. He said President Donald Trump might want oil prices to stay high to help US oil companies produce more. But he warned this could make things more expensive overall and push up interest rates. He said: "Trump may want prices to stay higher for longer to incentivise US oil giants to 'drill baby drill', but he won't like the effect on inflation this causes. "Higher inflation means higher interest rates, so the possibility that filling up your tank may only be more expensive for a short period will be welcomed by most." For now, drivers are feeling the pinch at the pump, but we've shared some tips below to help you save money. Warning over petrol station mistake which can cost £1,000s How can I find the cheapest petrol stations? Websites like can help you find the cheapest petrol stations near you. The site covers over 3,800 petrol stations using CMA data, providing daily price updates for unleaded, diesel, super unleaded, and premium diesel. To use it, simply register, enter your postcode, choose how far you're willing to travel (up to 20 miles), and select your fuel type. Keep in mind, you can only search the website five times a day, but downloading the app gives you unlimited searches. Your savings will depend on how often you fill up, which varies based on how frequently you use your car. Prices also differ by location and change week to week, so it's always worth checking to make sure you're getting the best deal. isn't the only option for comparing fuel costs. Fleet News and Allstar also offer tools to check petrol prices across different counties, letting you see how your area compares to the UK average. Plus, has a petrol price checker for registered users, allowing them to find fuel prices within a 5, 10, or 25-mile radius. How else can I cut fuel costs? ONE way to save is by signing up for major supermarket loyalty schemes, which can give you discounts of up to 5p per litre. Esso has partnered with Nectar, allowing you to get 5p off per litre when you redeem 300 Nectar points. BP drivers can use the BPme rewards card to earn one point for every £1 spent in-store or on a litre of regular fuel, with £1 off fuel or shopping for every 200 points. Loyalty schemes from Texaco, Shell, Sainsbury's, and Tesco also offer savings on fuel and shopping bills. You can further reduce fuel costs by driving more efficiently by: Accelerating gradually without over-revving. Driving in the highest gear possible. Allowing your car to slow down naturally instead of braking unnecessarily. Don't forget about clutter in your car. Extra weight from tools, toys, or rubbish can increase fuel consumption by as much as 12%. Clearing out unnecessary items can make a noticeable difference to your costs.
Arabian Business
30-06-2025
- Automotive
- Arabian Business
UAE announces petrol prices for July 2025
The UAE has released its petrol prices for July 2025. The prices have increased compared to the rates in June. While prices have remained steady recently, motorists are paying considerably less at the pump compared to the same period last year across all fuel types, even though there were price variations throughout the previous year. UAE petrol prices July 2025 Looking at the previous numbers, E-Plus 91 cost AED 2.95 per litre in June 2024 alongside diesel at AED 2.88 per litre. Currently, E-Plus 91 stands at AED 2.39 per litre, representing a notable decrease from last year. Special 95 dropped from AED 3.02 to AED 2.47 per litre year-on-year, while Super 98 has fallen from AED 3.14 to AED 2.58 per litre, making all fuel categories more affordable for consumers. From July 1, the cost of filling up vehicles in the UAE will be: E-Plus: AED 2.51 a litre from AED 2.39 in May Special 95: AED 2.58 a litre from AED 2.47 in May Super 98: AED 2.70 a litre from AED 2.58 in May Diesel: AED 2.63 a litre from AED 2.52 in May UAE fuel prices Prices in AED per litre E-Plus 91 Special 95 Super 98 Diesel June 2025 2.39 2.47 2.58 2.45 May 2025 2.39 2.47 2.58 2.52 April 2025 2.38 2.46 2.57 2.63 March 2025 2.54 2.61 2.73 2.77 February 2025 2.55 2.63 2.74 2.82 January 2025 2.43 2.50 2.61 2.68
Arabian Business
28-06-2025
- Business
- Arabian Business
UAE petrol prices to change; Dubai real estate hotspots; Millionaire investment tips; Leave guide and 2026 holiday dates – 10 things you missed this week
From UAE petrol price changes and new credit rules to real estate innovations and millionaire savings plans, the Gulf is seeing rapid shifts in finance and lifestyle. Meanwhile, smart city projects, public sector reforms, and Ramadan 2026 forecasts are helping shape the months ahead. Catch up with 10 of the biggest stories this week, as selected by Arabian Business editors. UAE petrol prices to change for July 2025 The UAE is set to announce petrol prices for July 2025 in the next few days. Petrol prices have remained virtually unchanged for the past three months, following two months of freezes to the cost of filling up at the pump. Despite the current stability, it is currently significantly cheaper to fill up a tank than year ago, with all categories becoming more affordable, despite prices fluctuating throughout the past 12 months. Saudi Arabia announces new credit card rules The Saudi Central Bank (SAMA) has announced updated credit card rules. The updated regulations will be for credit card issuance and operation, targeting cost reduction for customers whilst increasing disclosure and transparency levels, and will take effect within 30 to 90 days. Under the updated framework, credit card issuers must notify customers of fee changes via SMS, with customers permitted to terminate their agreements within 14 days of receiving such notices. E-wallet top-ups via credit cards will no longer incur charges. The regulations establish new fee structures for cash withdrawals. For amounts below SR2,500, fees are capped at 3 per cent of the transaction value. Dubai residents can now instantly check credit scores online Dubai residents can now check their credit reports and scores directly through the DubaiNow app, thanks to a new integration with the Etihad Credit Bureau. The collaboration between Etihad Credit Bureau (ECB) and DubaiNow, the UAE's leading unified government services app, allows users to access their personal Credit Report and Credit Score in real time with a single click—simplifying financial planning and enhancing digital accessibility. DubaiNow offers more than 300 integrated services from both government and private sector entities. With the new feature, users can log in to the app and instantly view their credit insights—supporting informed financial decisions and streamlining access to key personal data. UAE real estate: 6 major hotspots to invest in right now, delivering 9% returns The UAE's real estate sector recorded transactions worth over AED 239bn (approximately $65bn) in the first quarter of 2024, according to official figures. Property consultancy Whitewill has identified six locations drawing investor attention during the summer period. According to the analysis, the market favours projects combining lifestyle, location, and financial returns. Indian Aces 2025: Meet the Gulf's most powerful Indian business leaders The Indian business community remains an indispensable pillar of the United Arab Emirates' economic architecture. These entrepreneurs, executives, and visionaries – many of whom are celebrated in our Indian Aces 2025 power list – have transformed industries across the Emirates. From retail and healthcare to technology and construction, these business leaders have created enterprises that form the backbone of the region's economic landscape. Dubai real estate: How to buy property for $545 – tokenization explained Dubai is reshaping access to real estate with a new government-backed platform that lets investors own a slice of the city's booming property market for as little as AED 2,000. By turning property into digital tokens, the initiative introduces a new model of ownership that aims to make real estate investment faster, more flexible, and more accessible — all within a regulated blockchain ecosystem. But, what exactly is Dubai real estate tokenization and how does it actually work? Ajman reduces work hours and launches remote work Fridays from July1 Ajman has unveiled a new plan with reduced hours and remote work on Fridays. The 'Balanced Summer' initiative for government employees is aimed at promoting work-life balance, family cohesion, and environmental sustainability during the summer months. The plan was approved during a meeting of the Ajman Executive Council chaired by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman. Under the initiative, 100 per cent remote work will be in effect every Friday from July 1 to August 22, 2025. In addition, working hours from Monday to Thursday will be reduced to seven hours, running from 7.30 am to 2.30 pm across all government entities. UAE Ramadan and Eid 2026: Expected dates for Ramadan, Eid Al Fitr and Eid Al Adha announced Expected dates for Ramadan 2026 in the UAE have been announced by the Emirates Astronomy Society. The Emirates Astronomy Society forecasts Ramadan will begin on February 18, 2026, with Eid Al Fitr likely on March 20 and Eid Al Adha on May 27. Ibrahim Al Jarwan, chairman of the board of directors of the Emirates Astronomy Society, shared expected dates for holidays and events next year. UAE residents need nearly $1,800 monthly to become millionaires in 10 years, financial experts reveal The UAE's wealth creation ecosystem has produced some of the world's fastest-growing millionaire population, with specific strategies emerging for building seven-figure wealth. Anchored by zero personal income tax, 100 per cent foreign ownership rules, and $817 billion in non-oil trade, the nation has transformed into a magnet for entrepreneurs, investors, and high-net-worth individuals (HNWIs) seeking to drive their way to millionaire status But, how much can one build and save to hit AED1 million in the UAE? UAE Leave Guide 2025: Every type of holiday you're entitled to explained UAE workers will enjoy a public holiday on Friday, June 27, to mark the Islamic New Year — giving many a long weekend. But did you know there are nine official types of leave you're entitled to in the UAE? From annual holidays and sick leave to study breaks and maternity support, here's your full guide to every type of leave under UAE Labour Law in 2025.
Yahoo
27-06-2025
- Business
- Yahoo
Are you worried about rising petrol prices? Yahoo Finance readers have their say
The war in the Middle East has intensified in recent weeks and so have fears about the surging price of oil and its knock-on effect on petrol prices. UK politicians, including the chancellor Rachel Reeves, have expressed concerns about the economic impact of the ongoing crisis and how ordinary consumers may be affected. Read more: Bitcoin price regains ground as Israel-Iran tensions simmer When it comes to surging oil prices, the most immediate impact on UK consumers would be on prices at the pump, Tom Pugh, a partner at consultancy firm RSM UK, told our reporter Vicky McKeever last week. Although oil prices have dropped in the wake of the Iran-Israel ceasefire, fears remain about potential spikes in the future. Read more: UK consumers braced for petrol price hikes At the start of the week, we asked Yahoo Finance UK readers whether they were concerned about the cost of buying petrol due to spiking oil prices linked to the Middle East conflict. We received 275 responses, with 51% of readers expressing fears about the cost of filling up their vehicles, while 38% had no concerns and 11% were undecided on the matter. Read more: Gold prices fall as Trump says US has signed trade truce with China Why BP could still be a target as Shell quashes takeover rumours Bitcoin gains as Trump hints at US-Iran talks next week
Khaleej Times
26-06-2025
- Business
- Khaleej Times
UAE: Will petrol prices go up or down in July after the Iran-Israel war?
Petrol prices in the UAE could be revised upward for the month of July as global oil prices shot up earlier this month due to regional military conflict. Oil prices jumped after the Israel-Iran war and when later US attacked Iranian nuclear sites. Brent's closing price on average was around $69.87 in June compared to $63.6 last month. Brent oil was trading in the mid $60s a barrel, but it jumped to close to $80 a barrel as the Israel-Iran war escalated and the US was also involved in the conflict. Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said geopolitics aside, the supply-demand dynamics continue to favour softer oil prices. 'Global demand prospects are weakening due to trade uncertainties, while supply is ample — thanks to faster production restoration from Opec+. Russia said yesterday it's open to another output hike at the next Opec+ meeting due on July 6. So, if Middle East tensions are truly done and dusted, oil is more likely than not to fall back toward, or even below, the $60 per barrel level,' he said. In the UAE, the Fuel Price Committee kept petrol prices for the month of June unchanged. Currently, Super 98, Special 95 and E-Plus 91 are selling at Dh2.58, Dh2.47 and Dh2.39 per litre, respectively. Though retail fuel rates could go up next month, the official decision will be announced next week on Monday. The UAE deregulated petrol prices in 2015 and since then rates have been revised every month to bring them in line with global rates.
