Petrol Prices Surge in 145 Countries Following Six Months of Conflict in Iran

Petrol prices at the pump have increased in at least 145 countries and territories during the six months following the outbreak of war in Iran involving the United States and Israel, according to data from tracking service GlobalPetrolPrices. Out of 170 jurisdictions monitored, only 25 saw fuel prices remain steady or drop by single-digit percentages, mostly in major oil-producing nations that maintain heavy state subsidies on consumer fuel.

The sharpest price spike occurred in Myanmar, where the cost of 95-octane petrol rose 56 percent from $0.77 per litre on February 23 to $1.20 per litre by August 17. Other nations experiencing severe increases included Bhutan at 55 percent, Cuba at 51 percent, the United Arab Emirates at 50 percent, and Nigeria at 48 percent.

In the United States, figures from AAA Fuel Prices show that the national average for a gallon of regular petrol climbed 39 percent, rising from $2.94 prior to the conflict to $4.09. This price jump directly reduces how far commuters can travel on a fixed budget. A driver spending $50 on petrol could previously cover roughly 718 kilometers (446 miles) in a typical family sedan, but that same amount now yields only about 536 kilometers (333 miles)—a 25 percent reduction in overall travel distance.

Experts note that surging fuel costs quickly ripple through the broader international economy by driving up shipping and freight expenses across global supply networks. Energy costs directly affect every step of agricultural production and distribution, from field fertilizers to retail delivery trucks. "The lifeblood of the global economy is transport," economist David McWilliams stated, emphasizing the reliance of international commerce on energy. Because energy inputs move in lockstep with food prices, sustained high crude prices place additional upward pressure on retail grocery costs worldwide.

The economic strain is expected to hit lower-income nations hardest, as households in those countries allocate a larger portion of their earnings to purchasing food while depending heavily on foreign supplies of grain and chemical fertilizers. In these vulnerable economies, rapid price surges for imported energy and agricultural inputs could quickly escalate into severe food shortages. Beyond fuel and agriculture, crude oil and natural gas serve as vital raw ingredients for thousands of common manufactured products, including plastic packaging, medical supplies, synthetic clothing fabrics, cosmetics, paints, and household cleaning detergents.

Background

The geopolitical conflict in Iran began six months prior to late August 2026, involving military actions by the United States and Israel. Energy markets frequently experience widespread price volatility and supply disruptions during major conflicts in key oil-producing regions.