Which countries have seen the highest petrol prices since the Iran war? Motorists worldwide are experiencing the economic fallout from the United States and Israel’s conflict with Iran, with fuel prices surging since the attacks began on February 28. In the U.S., regular petrol prices have risen by 20 percent, climbing from an average of $2.94 in February to $3.58 as of March. Several states now exceed $4 per gallon, with California reaching over $5, its highest level in more than two years. Global petrol prices have risen in at least 85 countries, according to data from Global Petrol Prices, a platform tracking retail energy costs across 150 nations. Some nations delay price updates until the end of the month, so further increases are expected in April. Vietnam recorded the steepest increase, nearly 50 percent, as prices for 95-octane petrol rose from $0.75 to $1.13 per litre. Laos followed with a 33 percent rise, Cambodia at 19 percent, Australia at 18 percent, and the U.S. at 17 percent. Asia has been hit hardest due to its reliance on the Strait of Hormuz, a critical oil route closed since the war began. Japan and South Korea, which import 95 percent and 70 percent of their oil from the Gulf respectively, have taken emergency measures. Japan ordered oil reserves to prepare for potential releases, while South Korea imposed a first-time petrol price cap in 30 years. In South Asia, countries like Pakistan and Bangladesh face greater strain due to limited financial buffers and smaller strategic reserves. Bangladesh closed all universities, and Pakistan implemented a four-day workweek, school closures, and a 50 percent work-from-home policy to conserve fuel. European leaders, including French President Emmanuel Macron, convened an emergency meeting of G7 finance ministers to address rising prices.#iran_war #strait_of_hormuz #g7 #global_petrol_prices #emmanuel_macron
