Daily Brief: Canada gasoline surges 42.5%, Bangladesh hikes prices amid Iran war

Canada saw the most dramatic move among tracked markets, with gasoline prices jumping 42.5% over the past week to $1.108 per liter. According to Financial Post and BNN Bloomberg reports, the surge comes as [news reports indicate], driven by the ongoing oil price shock. Per CBC, oil prices hit a new wartime high before easing, with further gas price increases expected.

In Bangladesh, gasoline rose 31.3% to $1.325 per liter, as reported by Reuters, which noted the country raised fuel prices due to the Iran war driving up costs. Al Jazeera reported that Bangladesh has shut universities and limited fuel sales amid shortages. Meanwhile, Kenya saw diesel prices drop 18.7% to $1.507 per liter, despite protests erupting over high fuel costs, per Fortune and CNBC Africa reports. Sri Lanka's diesel fell 16.5% to $2.940 per liter, with the BBC and Atlantic Council noting fuel rationing and demand destruction as responses to the energy crisis.

Looking ahead, the Iran war continues to pressure global supply chains, with Canada's inflation data and Bangladesh's emergency measures signaling potential further volatility. Kenya's protests and Sri Lanka's rationing highlight growing social and economic strain across affected regions.