Report: Fuel prices in countries worldwide have risen this week due to the Iran war.

Due to the conflict between the US-Israel and Iran, which began on February 28, 2026, fuel prices in many countries around the world have significantly increased by this week. The closure of the Strait of Hormuz and attacks on energy infrastructure have severely disrupted global crude oil supply, causing the price of a barrel of crude oil, such as Brent, to rapidly rise to between $103 and $112.

It is reported that in some instances, this value has exceeded the $119 mark. Due to this crisis, a significant increase in petrol and diesel prices has been observed in over 95 countries worldwide, including those in the Asian region, from late February to date.

This situation has severely impacted Asian countries heavily reliant on crude oil from the Gulf region, with Cambodia reporting the highest fuel price increase in the region. The price of a liter of Octane 95 petrol there has risen by approximately 68%, from $1.11 to $1.32. In Vietnam, petrol and diesel prices have increased by an overall percentage of 50% to 70%, and in Laos, fuel prices have risen by about 33%. In Pakistan, the price of a liter of fuel has been raised by 55 rupees, or $0.28 (an increase of 20% to 30%), which is the largest price hike recorded in the country's history. Fuel prices in Japan have increased by 18% in one week, with the average price of a liter of petrol reaching a record high of 190.8 yen. Additionally, petrol prices in Nepal have recently been raised by 9.55% and diesel prices by 7%.

Due to the Philippines' reliance on imported fuel, the price of a liter of petrol has been raised in several stages to between 7 and 13 pesos (10-20%), a liter of diesel to between 17.50 and 24.25 pesos (30-40%), and a liter of kerosene to 38.50 pesos. In Thailand, diesel prices are gradually increased while being maintained within the 30 to 33 baht range, and China has raised its retail fuel price limits for the first time in years, with petrol and diesel increasing by 695 to 670 yuan per ton (an increase of approximately 10-20% per liter). South Korea has introduced fuel price caps for the first time in 30 years, and in some instances, diesel prices there have surpassed petrol prices. In Singapore, based on market conditions, fuel prices have also been observed to increase by 10% to 13%.

As global fuel prices rise, some Asian countries have taken steps to mitigate the impact on their populations through subsidies and price control mechanisms. Malaysia maintains the price of a liter of subsidized RON95 petrol at a stable level of 1.99 Ringgit, while only increasing the prices of unsubsidized RON97 and diesel. Indonesia has also worked to keep fuel prices stable by increasing government subsidies, and India has not made any changes to petrol and diesel prices as of mid-March 2026.

Outside of Asia, this fuel price increase is also strongly observed in other regions. Fuel prices in Nigeria have risen by approximately 35%, and in Canada, prices have increased by 28% to 30%. In the United States, petrol prices per gallon have risen from $2.94 to $3.58 - $3.72 (20-27%), and the price of a gallon of diesel there has exceeded the $5 mark. Additionally, price increases of over 20% have been reported from European countries like Germany, and 7% to 10% from the United Kingdom. These retail prices continue to fluctuate based on changes in crude oil prices and the tax and subsidy policies in the respective countries.