Fuel Prices EXPLODE Globally: Kenya Hits 242 Shillings, India Hikes After 4 Years, U.S. Sees Sharpest Spike Since Ukraine War
Drivers around the world are getting hammered at the pump as fuel prices surge in multiple countries, sparked by the war in Iran, supply disruptions from drone strikes, and fears of a wider Middle East conflict.
In Kenya, the latest monthly review sent prices soaring. Super petrol jumped by 16.65 shillings per litre, and diesel surged by a massive 46.29 shillings. In Nairobi, petrol now costs 214.25 shillings per litre and diesel is at 242.92 shillings. A Kenyan lawmaker is now pushing to cut VAT and other levies to ease the pain on consumers [150720].
India has raised petrol and diesel prices for the first time in four years. The government increased fuel rates by about 2.5 rupees per litre, effective immediately. Officials say the move is necessary to cover higher import costs, as India imports more than 80% of its crude oil. The escalating conflict between Iran and Western powers threatens global supplies and analysts warn further increases may follow if tanker routes in the Persian Gulf are disrupted [149969].
The crisis is also hitting South Africa hard. Drivers rushed to gas stations ahead of a midnight price hike that analysts called the steepest in the country's history. Despite a 3-rand-per-litre tax cut by the government, the relief was completely overwhelmed by soaring global prices driven by the Iran conflict [117884][117581].
In the United States, the average price of gasoline recorded its largest weekly increase since Russia’s full-scale invasion of Ukraine in 2022. Analysts blame recent attacks on energy infrastructure in Russia and the ongoing conflict in the Middle East for tightening global crude supplies [97612].
Meanwhile, China is set to impose its biggest single fuel price hike of 2024, triggering long queues at petrol stations as drivers rushed to fill up before the midnight deadline [109102].
Back in the Mideast, long lines are forming at gas stations across Iran's capital, Tehran, after reported strikes on the country's oil facilities. The government slashed the monthly gasoline quota for private vehicles from 30 liters to just 20 liters, causing hours-long waits for fuel [96510].
And in the UK, campaigners including Greenpeace are urging an immediate ban on private jets and a motorway speed limit cut to 60 mph, warning that the government is "sleepwalking into a crisis" as jet fuel shortages loom [150148].