Daily Brief: Malaysia Gasoline Soars 94% Amid Asian Energy Crisis

Malaysia's gasoline price surged 94.3% over the past week to $0.960 per liter, the most dramatic move in global fuel markets. This spike coincides with reports of an escalating energy crisis in Asia, attributed by multiple sources to regional supply restrictions and the ongoing Iran conflict.

Other significant increases include Brazil's diesel, up 39.4% to $1.941/L, Ukraine's gasoline, rising 31.6% to $2.051/L, and Morocco's diesel, climbing 29.2% to $1.454/L. In contrast, Kenya's gasoline price fell 22.8% to $1.538/L, a notable decline amid regional volatility and domestic reports of a government-to-government fuel scandal.

The market mood remains stressed with widespread price pressures linked to the Iran war. Key developments to watch include Malaysia's negotiations for safe passage through the Strait of Hormuz and Brazil's policy response after cutting fuel taxes to offset the surge.