India's wholesale inflation hit 9.68% in May under a new series, driven by elevated food and fuel prices. Geopolitical tensions, particularly the US-Iran conflict, are pressuring crude oil and global supply chains. The government also launched a new producer price index and revised the WPI base year to 2022-23.
Union Minister Suresh Gopi stated that fuel prices will be reviewed based on crude oil supply, amid recent hikes in petrol, diesel, and LPG due to West Asian conflict disruptions. Minister Hardeep Singh Puri will make the final decision.
Nearly a third of German drivers are using their cars less due to high fuel prices, with 35% of those under 30 doing so. Many favor a VAT reduction on fuel as a political measure, while a fuel price brake is also supported. The temporary fuel discount ends in June.
Foreign airlines are increasingly refueling in Russian airports to save money due to rising international fuel costs. Russian authorities prioritize fueling domestic flights, especially during peak summer season.
Fuel prices remained unchanged across major Indian cities on June 11, 2026, as a new excise duty exemption on higher ethanol-blended petrol (E22-E30) does not affect standard fuel prices for consumers.
India has waived excise duty on E22, E25, E27, and E30 ethanol-petrol blends to promote ethanol usage. This move supports the government's plan to establish 500 ethanol fuel stations by 2026, amid rising fuel prices due to the Middle East crisis.
Donald Trump stated US fuel prices are "not very high, relatively speaking" despite a surge linked to the war on Iran. The national average gas price is $4.16 per gallon, $1 higher than last year, impacting inflation and daily costs for American households.
Vietnam's Ministry of Industry and Trade and Ministry of Finance announced price adjustments for gasoline and oil, with E5 RON 92 decreasing by 1,470 VND per liter. E10 gasoline, replacing RON 95-III, will be sold nationwide from June 1st.
Fuel prices in India remained steady on June 4, offering consumers a temporary reprieve. However, rising global crude oil prices nearing $95 per barrel are fueling speculation about potential future hikes, which could impact household budgets and inflation.
India's electric vehicle market is gaining momentum, driven by high fuel prices and upcoming regulations like CAFE-3. Despite a 25% market expansion and EVs crossing the 5% threshold, challenges in charging infrastructure and supply chain dependencies, particularly on China, persist.
India's Union Cabinet approved a Rs 10,000 crore fund to stabilize Aviation Turbine Fuel (ATF) prices, aiming to protect airlines and passengers from sharp increases due to the West Asia crisis. The fund will provide interest-free advances to OMCs for scheduled Indian carriers.
The Japanese government spent 310 billion yen in April on subsidies to curb prices of gasoline and other fuels. As of the end of last month, the remaining balance in the fund for these subsidies was approximately 670 billion yen, according to the Ministry of Economy, Trade and Industry.
Fuel prices across India remained stable on June 3, with no changes reported for petrol, diesel, and CNG in major metro cities. Oil marketing companies maintained current retail rates despite global crude oil fluctuations, offering commuters temporary relief.
Rising fuel costs are driving a surge in electric car sales in France, particularly in the used market. Consumers are seeking significant savings on monthly expenses, with some reporting savings of up to 150 euros per month.
India faces rising fuel prices, with petrol and diesel up Rs 7.5/litre since May 15. Crisil predicts this will increase transport and manufacturing costs, potentially leading to higher consumer inflation, especially for food. GST cuts offer some relief, but elevated energy costs remain a concern.
Bloomberg Economics estimates the RBI sold $12 billion in gold in two weeks ending May 22 to protect foreign exchange reserves amid rising energy costs and currency pressure due to the US-Iran conflict.
Average fuel prices in France have dropped significantly, with diesel seeing an 8-cent per liter decrease. This marks the lowest diesel price since mid-March and the most substantial gasoline price drop since the Middle East conflict began.
Hong Kong's Financial Secretary Paul Chan stated the Middle East war has had a limited impact on local inflation, citing the city's service-based economy and stable energy from mainland China as mitigating factors.
Portugal's fuel prices to decrease by 12 cents/litre for petrol and diesel from Monday, pending potential government tax adjustments.
Australia's annual inflation rate decreased to 4.2% in April from 4.6% in March, driven by a 7% drop in automotive fuel prices following a halved fuel excise. Underlying inflation (trimmed mean) rose slightly to 3.4%.
US gas prices have exceeded $4 per gallon nationwide, impacting 39 million travelers for Memorial Day. The article explores the unique American reliance on cars, the historical context of the Interstate Highway System, and how gas prices serve as a visible economic and political indicator.
India's petroleum ministry is monitoring fuel supplies amid panic buying and shortages at petrol pumps in Gujarat, Maharashtra, and Uttar Pradesh. Officials cite a surge in demand and logistical issues, not a lack of stock, for the dryouts. Fuel prices have been raised for the fourth time in two weeks.
Fuel prices in India have increased by Rs 7.5 per litre since the Middle East crisis began, with petrol and diesel seeing a Rs 2.61 and Rs 2.71 hike respectively. This marks the fourth increase in ten days, raising concerns over household budgets, inflation, and transportation costs.
Poland's Minister of Energy announced new maximum fuel prices for Tuesday, May 26. Benzyna 95 will be capped at 6.42 PLN/liter, Benzyna 98 at 6.96 PLN/liter, and diesel at 6.75 PLN/liter, marking a decrease from the previous day.
