Daily Brief: Kenya Gasoline Soars 28% as Iran War Rattles Markets

Kenya recorded the sharpest price surge among 57 tracked countries, with gasoline jumping 28.2% to $2.152 per liter over the past seven days. According to reports from Dawan Africa and Business Insider Africa, the spike is driven by Middle East tensions and global oil supply fears, with the BBC noting that prices have risen sharply despite a reduction in tax due to the Iran war. Protests have erupted in Nairobi, per Fortune, as the crisis deepens.

In Pakistan, diesel rose 17.9% to $0.827 per liter, contributing to an inflation acceleration to 11.7%, as reported by OilPrice.com. The New York Times and Al Jazeera highlight the strain on Pakistan's fragile economy, while Reuters notes plans for oil reserves amid Hormuz vulnerabilities. Conversely, the Philippines saw diesel prices drop 15.3% to $1.241 per liter, though the Baker Institute and Christian Science Monitor link broader regional pressures to the Iran conflict's aftershocks.

Looking ahead, the Iran war's impact on global supply chains remains a key driver for East Africa and South Asia. The Philippines' DOE easing of price controls, per Inquirer.net, may offer limited relief, but elevated oil prices continue to challenge subsidy frameworks across Southeast Asia, as noted by IEEFA.