The US-Israeli coalition’s war against Iran did not only shake the crude oil market; in many economies, the main wave of pressure appeared at fuel stations and in diesel markets. According to the data shown, between the start of the war and 9 June 2026, diesel prices increased across a wide range of countries, with the scale of the rise varying significantly depending on levels of fuel import dependency, subsidy policies and the speed at which global price increases were passed on to domestic markets. Independent data also shows that disruptions to maritime transport following the war led to a significant increase in retail diesel prices.
Leading the surge was Laos, with a 149.7% increase, a figure far above the average rise recorded in most economies worldwide. It was followed by Fiji with 110.1%, Myanmar with 85.6%, Lesotho with 84.4% and Indonesia with 80.1%. Further down the ranking were the United Arab Emirates with 71.8%, New Zealand with 70.6%, Peru with 64.5%, Malaysia with 62.9% and Tanzania with 60.4%. These figures show that the Hormuz shock can be transmitted rapidly to fuel prices even in economies far from the conflict zone.
The next ten countries on the list also provide a clear picture of the geographical reach of the crisis: Nepal 58.5%, Lebanon 54.6%, Singapore 54%, Chile 54%, Honduras 53.8%, Panama 53.7%, Vietnam 49.3%, Sri Lanka 48%, South Africa 47.9% and the Philippines 46.4%. A significant share of the countries experiencing the sharpest increases are therefore located in Asia, particularly in South and Southeast Asia.
At the same time, the price shock was not limited to the top 20 countries. In the Americas, the United States recorded a 40.5% increase, Canada 22.8%, Mexico 20.6%, Brazil 14.3%, Argentina 24.5%, Paraguay 31.2%, Chile 54%, Peru 64.5% and Colombia 2.7%. In Europe, the figures included 30.1% for the United Kingdom, 23.9% for France, 14.4% for Spain, 17.2% for Italy, 7.4% for Germany, 10.9% for Finland, 13% for Poland, 35.6% for Ukraine, 8.1% for Turkey and 1.7% for Russia.
In East Asia, China recorded a 28.6% increase, South Korea 26.3% and Japan 10.8%. In South Asia, Pakistan recorded 38.1%, India 8.3% and Bangladesh 32.1%. Australia’s 27.5% increase and New Zealand’s 70.6% rise also show that even developed economies in Oceania were not immune from the price wave. In Africa, South Africa experienced a 47.9% increase, Kenya 39.8%, Morocco 32.9%, Zambia 31.1%, Egypt 17.1%, Nigeria 8.3% and Tanzania 60.4%.
The greater intensity of the crisis in Southeast Asia is not accidental. A significant share of the oil and petroleum products required by the region is supplied through maritime routes and supply chains dependent on the Persian Gulf. The International Energy Agency has warned that the Hormuz crisis has exposed Southeast Asia’s structural vulnerabilities in energy security and affordability. Around 80% of crude oil and LNG passing through Hormuz is destined for Asian markets; therefore, disruption in the waterway directly puts pressure on Asian economies.
The key point is that diesel is not merely a fuel product; it is one of the foundations of the real economy. Trucks, ships, agricultural machinery, construction projects, mines, generators and a large part of the goods distribution chain depend on it. Therefore, rising diesel prices create a domino effect: first, transportation costs increase; then production and distribution costs rise; and eventually pressure is transferred to food prices and consumer goods.
Research by the Asian Development Bank also confirms this mechanism. The institution estimates that by the fourth week after the start of the disruption, diesel prices had increased by around $0.49 per litre compared with a no-war scenario, while welfare losses caused by higher petrol and diesel prices had reached approximately $3.17bn per day.
Meanwhile, the crisis is not limited to crude oil. Disruptions at refineries and reduced exports of refined products have intensified pressure on the diesel market. Reuters reported on 17 August that even with crude oil prices declining from wartime peaks, refined product prices, particularly diesel, have remained elevated because global refining capacity is under pressure and diesel exports fell by around 1.3 million barrels per day in July compared with the previous year.
The final message from this situation is clear: the Strait of Hormuz is not merely a route for oil shipments; it is a global bottleneck affecting the cost of living. The longer disruption along this route continues, the greater the likelihood that the fuel shock will move beyond petrol stations and reach freight costs, food prices, production expenses and broader inflation. The experience of Asian countries shows that a war in one geographical location can send its bill directly to consumers thousands of kilometers away.
NOURNEWS