Iran war: How fuel prices shifted worldwide

Fuel prices surged sharply across the world between February 23 and March 23, 2026, following tensions linked to the Iran war, with both gasoline and diesel recording significant increases in multiple countries.

Data shows the Philippines experienced the steepest rise, with gasoline prices jumping by 54.2 per cent and diesel soaring by 81.6 per cent.

Nigeria followed, recording increases of 48.7 per cent for gasoline and 65.5 per cent for diesel, highlighting the widespread impact on both emerging and developed markets.

In Australia, gasoline rose by 42 per cent while diesel climbed 52.1 per cent.

The United States and Canada also saw notable increases, with diesel rising by 41.2 per cent and 36.9 per cent, respectively.

European countries, including France and Germany, recorded moderate spikes, while China and the United Kingdom saw relatively smaller increases.

Overall, the data underscores how geopolitical tensions can rapidly disrupt global energy markets, driving up fuel costs and placing pressure on economies and consumers worldwide.