Daily Brief: Indonesia Gasoline Prices Nearly Double Amid Supply Restrictions

Indonesian gasoline prices have nearly doubled in a week, surging 93.7% to $1.132 per liter. This dramatic increase coincides with reports, per Reuters, that the government is limiting fuel sales to counter the impact of the Iran war. The move follows viral rumors of a price hike that triggered long queues, according to the Jakarta Globe, though the government has denied any official price increase.

South Africa also experienced significant upward pressure, with gasoline rising 21.9% to $1.209/L and diesel up 19.0% to $1.170/L. Regional news reports from Reuters and China Daily attribute widespread African fuel price hikes to supply disruptions from the Middle East conflict. In contrast, Ecuador's gasoline price fell sharply by 32.6% to $0.902/L, a decline occurring amidst reports of severe fuel theft and a broken oil industry facing violent headwinds, as covered by OilPrice.com.

Market attention remains focused on government interventions and supply chain disruptions. The effectiveness of Indonesia's sales limits in stabilizing prices will be closely watched, while the divergent price paths in Ecuador and Nigeria, where gasoline fell 10.0% to $1.005/L despite refinery issues reported by Reuters, highlight localized market dynamics.