Daily Brief: Uruguay Diesel Plunges 49.8%, Malaysia Surges 38%

Uruguay saw the steepest decline in diesel prices this week, falling 49.8% to $0.669 per liter, according to Nexignis data. The drop comes as South America grapples with oil shock effects, per Reuters reports, though renewable energy investments may be cushioning some impacts, as noted by dw.com.

In Asia, Malaysia's diesel prices surged 38.0% to $1.191 per liter, with reports from Reuters indicating government workers are being asked [news reports indicate] energy costs. Bangladesh also saw significant declines, with diesel falling 31.9% to $1.329 per liter, following a 15% price hike reported by energynews.pro amid the Strait of Hormuz crisis.

Argentina's gasoline prices showed mixed movement, with one grade dropping 49.3% to $0.716 per liter and another falling 33.8% to $0.934 per liter. The Buenos Aires Times reports the government is maintaining petrol prices in a shift from free-market policies. Watch for continued volatility in Asian markets as the Iran conflict tightens supply, per Council on Foreign Relations analysis.