17/06/2026
Petrol prices are poised for a sharp decline after global markets reacted to a surprise US–Iran peace agreement that has eased tensions across the Strait of Hormuz.
With the critical shipping route now fully open, crude oil prices slipped nearly 4% overnight.
The development is expected to deliver immediate relief at fuel stations, with analysts forecasting that UAE motorists could soon benefit from significantly lower fuel costs starting next month as global supply risks cool down.
UAE fuel prices expected to fall next month after deal announcement. Global oil markets dip after surprise geopolitical breakthrough. Relief expected at the pump.