Daily Brief: Uruguay Diesel Plummets 41%, Norway Hits Record High Amid Global Shock

Uruguay's diesel price recorded the most dramatic weekly move, plunging 40.9% to $1.246 per liter. This sharp decline comes as the country shifts to monthly price-setting, according to MercoPress, amid a broader regional oil shock reported by Reuters. Conversely, Norway's diesel price surged 33.1% to a record $2.944 per liter, with experts warning the peak may still be ahead, per Anadolu Ajansı.

In Asia, Malaysia's diesel price rose 22.3% to $1.770 per liter, prompting government work-from-home measures to save energy, as reported by Reuters. Ghana saw uniform declines, with both diesel and gasoline falling 14.8% to $1.537/L and $1.196/L respectively, even as analysts warn of persistent global price shocks and vulnerability, according to Modern Ghana and NewsGhana.

The market outlook remains heavily tied to Middle East tensions, with reports citing the Iran conflict as a primary driver of high oil prices and economic shock. The divergent price movements between Uruguay and Norway underscore how national policies and regional exposure are shaping local fuel costs globally.