Petrol

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.

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

The average price for regular petrol at US service stations has exceeded US$4 per gallon for most of April, according to data from GasBuddy.

Trump says petrol prices may remain high through November midterm election

Polls show the war is unpopular among most Americans who are frustrated by rising petrol prices

ExxonMobil is scheduled to release its complete quarterly results on May 1.

Exxon sees 6% of its worldwide Q1 output shut on Middle East conflict

Half of those outages are concentrated at a liquefied natural gas complex in Qatar

If the Iran war drives up food import prices, consumers should start looking closer to home.
COMMENTARY

‘Never waste a crisis’: Putting Iran war price pressures to good use

If higher fuel and energy prices drive lasting behavioural change, Singapore will be better off in the long run