Daily Brief: India Gasoline Soars 69% in Week; Japan Diesel Up Sharply

India's gasoline price surged 68.9% over the past week to $1.716 per liter, the most significant move in tracked markets. This sharp increase coincides with reports of record-high jet fuel prices and government efforts to mitigate the surge, as the Middle East conflict drives a global energy shock, according to multiple news sources.

Japan also experienced substantial diesel inflation, with prices rising 22.4% to $1.320/L and another grade up 15.6% to $1.247/L. In contrast, Morocco's diesel price fell 22.1% to $1.202/L, even as local reports note price surges and the government states it holds 51 days of diesel stocks, per Reuters. Malta's diesel rose 16.8% to $1.584/L, though officials there have stated global spikes will not affect local prices, as reported by Lovin Malta.

The market mood remains stressed, with Asian governments reportedly spending billions to offset the oil price shock. The focus remains on the Middle East conflict's continued pressure on global supplies and the efficacy of national subsidy and stockpile strategies in mitigating domestic price impacts.