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Gulf nations monitor fuel price rise
Three Gulf countries expect to raise fuel prices in the coming hours, following the increase in global oil prices in September to over $100 per barrel due to escalating tensions between Iran and the United States. It is anticipated that the UAE, Qatar, and Kuwait will see an increase in fuel prices, with differing pricing mechanisms and review cycles. The UAE has prepared for a September price hike, while Qatar and Kuwait are reviewing prices ahead of October. This comes after oil prices saw significant jumps in September, directly impacting the prices of petroleum derivatives in the region.
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