Daily Brief: Ukraine Gasoline Surges 24% as Refinery Attacks Bite

Ukraine saw the sharpest price swing among 60 tracked markets, with gasoline surging 24.0% to $1.288 per liter over the past week. The spike follows reported attacks on Russian refineries, per OilPrice.com, which have raised concerns about regional diesel export restrictions.

In contrast, Nigerian diesel prices dropped sharply—down 18.7% to $1.239/L—even as the country faces record gasoline costs, according to Reuters. Kenya’s gasoline also fell 15.3% to $1.564/L, though protests over fuel costs have paralyzed parts of Nairobi, as reported by Fortune. Vietnam bucked the trend with a 15.1% gasoline increase to $1.022/L, driven by global oil market fluctuations and government stabilization fund adjustments, per VnExpress International.

Looking ahead, the divergence between Ukraine’s supply-driven spike and Nigeria’s diesel decline highlights the uneven impact of geopolitical tensions on regional fuel markets. Traders should monitor potential export bans from Russia and ongoing subsidy challenges in Southeast Asia, as flagged by IEEFA.