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China has built too much capacity for the slower economic growth that has taken hold in recent years.

Energy & Commodities

Iran war delivers massive swings in Chinese petrochemicals trade

Amid loss of feedstock from the Persian Gulf, Asian petrochemical importers tapped China, which has massive stockpiles

The average price of petrol in the US is US$3.906 a gallon on Jun 24, GasBuddy data shows, down more than 14% from May.

Trump calls for probe into petrol price ‘gouging’

He says the fall in petrol prices was neither enough nor proportionate with declines in crude oil costs

An Asda petrol station in Bethnal Green, London, Britain, March 27, 2026.

UK government to scrap planned rise in fuel tax, The Sun reports

Global oil prices have risen by around 60 per cent since the start of the Iran war

Petrol and diesel inventories at state-owned refineries are at the highest level since 2025 and 2024, respectively, according to Mysteel OilChem data.

Energy & Commodities

China’s state refiners seek to resume fuel exports after halt

The government has yet to announce any change to permits following the request

Now in its second month, the war in the Strait of Hormuz effectively chokes off around a fifth of global oil and LNG supply.

Global Enterprise

Iran war to keep petrol market tight for two more years: IEA

The agency says this can result in a shortfall of 120 billion cubic metres of LNG between 2026 and 2030

The price drop will save a private-car owner about US$3.23 when filling a 50-litre tank of 92-octane petrol.

China cuts petrol, diesel price caps for first time since start of Iran war

The reduction comes as global oil prices retreat from their peaks during the conflict

The move is intended to reduce dependence on petroleum products that are becoming increasingly expensive as the Iran war disrupts global oil and gas supplies.

Vietnam rushes biofuel rollout as Iran war prompts energy pivot

The move follows similar drives in Indonesia and Thailand

Malaysia heavily subsidises retail fuel prices, making them politically sensitive and a key tool for managing living costs.

Malaysia’s fuel subsidy bill swells to RM7 billion in April

RON95, the most popular grade of petrol, retails at RM1.99 a litre, among the lowest in the world

Malaysia’s government is under pressure to contain rising living costs and manage a swelling subsidy bill due to higher oil prices.

Malaysia has fiscal room to support industries amid Iran war

The nation’s monthly subsidies for both petrol and diesel have climbed to RM6 billion, from RM700 million before the conflict

The Philippines’ measured response shows how governments are balancing relief for sectors hit by higher commodity prices due to the Iran war.

Philippine economic managers oppose tax halt on diesel, petrol

Oil prices have whipsawed on daily developments in the war

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