Daily Brief: Philippine Diesel Surges 158%, Bangladesh Up 108%

Philippine diesel prices surged 157.6% over the past week to $1.558 per liter, the largest move among tracked markets, as the Iran conflict continues to disrupt global supply. According to BBC reports, fuel rations and free bus services have been introduced in response to rising oil prices. Fitch revised the Philippines' outlook to 'negative' per Reuters, citing energy shock impacts on growth.

Bangladesh diesel rose 108.1% to $1.950/L, with the government hiking [news reports indicate] 16.6% as reported by Newagebd.net. Per Time Magazine, [news reports indicate] [news reports indicate] rationing. Indonesia saw multiple gasoline price jumps, including a 103.8% increase to $1.178/L, as Reuters noted the country plans [news reports indicate] the Iran war impact.

Looking ahead, supply strains in Indonesia are worsening according to Asia News Network, with calls to accelerate energy transition per Mongabay reports. The Philippines' fuel crisis has also affected Easter pilgrimages, per The New York Times. Markets remain under stress as the Iran conflict tightens oil supply across Asia.