Residents in Pakistan say they are feeling "crushed" and have to put filling up the tank before putting food on the table. Diesel is set to rise by 55% and petrol 43% as the government hike prices for the second time in a month.
China is emerging as one of the more stable economies amid the latest global oil shock, thanks to years of planning, diversified energy sources and a steady shift towards renewable power.
The escalation of conflict involving the United States, Israel, and Iran since 28 February 2026 has moved beyond a regional security crisis to become a systemic shock to the global economy and our pockets.
Europe's aviation sector hit - and may well have surpassed - a 2% mandate for green jet fuel use in 2025, a regulatory official and a source told Reuters, bolstering airlines' green credentials as the region seeks to cut reliance on hydrocarbons.
Australian Prime Minister Anthony Albanese said on Monday the government would halve the excise on fuel and diesel and remove the heavy road user charge for three months to help households cope with a surge in costs driven by the Iran war.
A powerful tropical cyclone in Western Australia has disrupted production at the country’s two biggest liquefied natural gas plants run by Chevron and Woodside, exacerbating a global supply crunch caused by the conflict in the Middle East.
Petrol price spikes triggered by the war in Iran are boosting used electric vehicle sales across Europe, online car platforms told Reuters, in an early sign that pain at the pump is pushing consumers away from combustion engines.
A flotilla carrying humanitarian aid arrived in Havana on Tuesday morning (24 March) amid a U.S. oil blockade that has dealt a major blow to the island's already ailing energy infrastructure.
China is raising domestic petrol and diesel prices under temporary measures to manage a sharp surge in global oil costs, aiming to support fuel suppliers while maintaining market stability during a period of heightened volatility.
British Prime Minister Sir Keir Starmer said on Monday (23 March) that Britain must plan for the possibility that the Iran war could continue for some time, and added that he had no "meaningful concerns" about energy supply.
New Zealand will temporarily permit fuel meeting Australian standards to be imported for up to 12 months, the government said on Monday, as it seeks to mitigate supply risks linked to the Middle East conflict and soaring prices.
Cubans are increasingly turning to solar power to keep businesses operating and basic household appliances running during prolonged electricity cuts, as fuel shortages make diesel generators and other temporary solutions more difficult and costly to maintain.
Armenian Prime Minister Nikol Pashinyan has rejected criticism over the import of fuel from Azerbaijan, saying such concerns are “unfounded” and arguing that the move has already benefited consumers by lowering prices.
Armenia has confirmed the shipment of a second batch of petroleum products from Azerbaijan, underscoring expanding economic ties between the two countries following the recent peace process. Yerevan's Ministry of Economy’s spokesperson, Lilit Shaboyan, verified the information.
Petroleum products are being transported by rail from Azerbaijan to Armenia for the first time in decades. The move is hailed as a tangible breakthrough in efforts to normalise relations between the long-time rivals.
UK Prime Minister Keir Starmer has signalled a U-turn on upcoming winter fuel payment cuts by ensuring more pensioners are approved. Figures revealed inflation rose to 3.5% in April.
Fuel vendors in Damascus are thriving in the post-Assad era, providing much-needed gasoline and diesel to Syrians after years of repression under the former regime. The shift has brought newfound freedom and relief from years of repression.
Russia says it will provide Cuba with around 80,000 tonnes of diesel fuel after the island's electric grid collapsed when Hurricane Rafel damaged homes.
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