Daily Brief: India, Vietnam Lead Global Fuel Price Surge

India's gasoline prices surged over 20% in the past week, with one grade reaching $1.050/L, according to Reuters and S&P Global reports. The hikes—the first in four years—are straining fuel demand and industrial activity, per Reuters, while doing little to cover refiners' losses, as noted by S&P Global.

Vietnam saw extreme volatility: gasoline rose as much as 16.4% to $1.199/L, but another grade dropped 15.4% to $0.871/L. Per Reuters, the government tapped its stabilization fund to manage prices amid global oil fluctuations, while IEEFA highlighted the region's fossil fuel subsidy challenges.

Watch for further price adjustments in India as global energy pressures persist, and monitor Vietnam's stabilization fund usage. The Strait of Hormuz closure, flagged by MUFG Research, could deepen supply risks for Southeast Asia.