The Iran crisis has reshaped global energy markets, sending crude oil prices soaring and delivering massive profits to the world's biggest oil companies. As disruptions in the Strait of Hormuz pushed oil above $126 per barrel, energy giants including Saudi Aramco, ExxonMobil, Chevron, Shell, BP, and TotalEnergies reported record quarterly earnings.

Combined profits reached nearly $93 billion between April and June, while consumers worldwide struggled with soaring fuel and energy costs. The windfall has sparked political criticism and renewed calls for stronger taxes on excess profits and greater investment in clean energy.

Iran War Fuels Oil Profits: Energy Giants Earn $93 Billion in Just 3 Months

Cheap flights are becoming increasingly difficult to find as airlines grapple with elevated fuel costs and rising operational expenses. Higher jet fuel prices, supply constraints, and strong travel demand are keeping ticket prices elevated across many routes. Here's why airfares remain stubbornly high and what travelers can expect in the months ahead

Airfares soar as fuel costs stay high 

The Indian government has announced a major reduction in the price of 19-kg commercial LPG cylinders, offering significant relief to restaurants, hotels, caterers, and other commercial establishments. Commercial LPG cylinder prices have been reduced by more than ₹200 in major cities, including Delhi and Kolkata.

Following the latest revision, a 19-kg commercial LPG cylinder now costs approximately ₹2,728 in Delhi and ₹2,872 in Kolkata. The price cut comes into effect immediately and marks the second consecutive monthly reduction after a similar cut in July.

The reduction partially reverses the steep price hikes seen earlier this year, which were driven by rising global LPG prices and supply concerns linked to tensions in West Asia and disruptions around the Strait of Hormuz.

India Cuts Commercial LPG Cylinder Prices by Over ₹200 | Big Relief for Businesses

Hundreds of members of Pakistan's transgender (Khwaja Sira) community and their supporters gathered in Karachi to protest against soaring inflation, rising fuel prices, expensive food, and the increasing cost of living.

The demonstrators carried placards demanding urgent government action, better employment opportunities, and financial relief for vulnerable communities. Protesters said the rapid increase in the prices of essential goods, housing, and transportation has made survival increasingly difficult, especially for transgender Pakistanis who continue to face discrimination and limited access to formal employment.

Pakistan's Transgender Community Protests Rising Inflation and Cost of Living in Karachi

Global energy markets are facing renewed uncertainty as Brent crude oil prices surge above $94 per barrel amid rising US-Iran tensions. Analysts warn that crude prices could approach $100 per barrel soon, while a worst-case scenario could push Brent back toward $120 if oil flows through the Strait of Hormuz are severely disrupted.

The Strait of Hormuz remains one of the world's most important energy routes, carrying millions of barrels of oil every day. Any escalation in the Middle East could trigger a fresh oil shock, impacting fuel prices, inflation, and global economies.

Goldman warns: Brent could top $120 again | Wion News  | World Business Watch 

Global crude oil prices have eased sharply following the de-escalation of the recent west Asia conflict. The move has brought relief to fuel consumers across several major economies.


Why and when will Indian fuel prices ease: Explained 

Amid the ongoing Iran war, global aviation markets are under severe pressure as jet fuel prices surge sharply, with reports indicating increases of over 120% in affected regions. The crisis, driven by disrupted oil supply routes and geopolitical tensions, is pushing up airline operating costs and raising concerns about higher ticket prices and flight disruptions worldwide.

Iran War: Global Jet Fuel Prices Jump Over 120% Amid Crisis 

Nigeria cuts 30% of airline debts. Decision comes after airlines threatened to halt operations. Representatives of airlines, govt to meet within 48 to 72 hours.


Nigeria Cuts 30% Airline Debts Amid Sharp Rise in Jet Fuel Prices

The global oil market is on edge as Donald Trump proposes a potential blockade targeting Iranian oil flows through the Strait of Hormuz. The move could disrupt nearly 1.7 to 2 million barrels per day of Iranian exports, tightening an already constrained global supply.


Tanker Chaos Unfolds in Hormuz Corridor

What started as an energy shock is spiralling into the global food system. Fuel prices usually correct following diplomatic developments around Iran, but fertiliser markets continue to remain under stress.
The big question… are we heading toward the next food inflation cycle?

Fertiliser Spike Signals Incoming Food Inflation

Fuel prices are rising sharply across 80+ countries worldwide as the ongoing US-Iran conflict disrupts oil supplies and shipping routes through the Strait of Hormuz, one of the world’s most critical energy chokepoints. 


Global Fuel Price Surge: Fuel Prices Rise Across 80+ Countries Worldwide 

The closure of the Strait of Hormuz has thrown the maritime market into disarray.
The problem lies in how to calculate the cost of hiring an oil tanker when the trade route used to calculate benchmark prices is shut down.


Oil Tanker Market’s Key Rate Thrown Into Chaos

India is witnessing growing fuel price concerns as premium petrol prices have been hiked, even though regular petrol rates remain unchanged. The increase reflects rising global crude oil prices amid ongoing geopolitical tensions, putting pressure on oil marketing companies.


India Fuel Crisis: Regular Petrol Price Unchanged, But 'Premium Price' Hiked

U.S. retail gasoline and diesel prices are soaring as the U.S.-Israel war with Iran constrains oil and fuel exports, which could be a political test for President Donald Trump's Republican Party ahead ​of midterm elections in November.
Fuel prices jumped more than 10% this week as oil rose above $90 a barrel, its highest in years, adding pain at the ‌pump for consumers already strained by inflation. Trump on Thursday shrugged off higher gasoline prices in an interview with Reuters, opens new tab, saying "if they rise, they rise."

US-Iran War: Fuel Prices Surge in US

In 2025, crude oil fell over 20 percent to post its deepest annual loss since 2020 on surplus concerns.

A punishing supply is expected to weigh on prices this year as well.

However, fuel prices at indian pumps have remained elevated since the government cut petrol and diesel prices in march 2024.

In this next report, we dive into why fuel prices haven't come down in the country despite a significant fall in international crude.

Indians See No Change in Fuel Prices Despite Crude Plunge 

Below is a factual breakdown of how fuel level impacts efficiency, engine load, and long-term components.

‘Full tank vs half tank of petrol’: Which fuel level gives better mileage?

Fuel and water are basic needs for everyone. But did you know in some countries, fuel is actually cheaper than water? This happens mainly in places where oil is plentiful or when governments keep fuel prices low through subsidies. Let’s explore 6 such countries.

Top 6 countries where fuel is cheaper than water

Analysts say fuel prices in India may not spike after the festive season if global crude stays low. Retail prices should remain steady unless there’s a supply shock or major policy change. Know more below.

Will fuel prices spike post-festive season? What analysts say

In a rare development, all three key inflation indicators—the annual inflation rate, core inflation rate, and average inflation rate—have fallen to single digits, signaling a significant easing of inflationary pressures. In August 2024, Pakistan’s inflation dropped to 9.6% for the first time in 34 months. This downward trend continued into September, with the rate further decreasing to 6.9%.

Pakistan's Inflation Drops To An All-Time Low As Government Cuts Fuel Prices

Nigeria, Africa's largest oil producer, has long struggled with fuel shortages. To address this, billionaire Aliko Dangote embarked on an ambitious project: the construction of Africa's largest refinery. After years of delays, the Dangote refinery finally began producing petrol in 2024.

Nigeria: Can Dangote refinery end Nigeria's reliance on fuel imports?

State-run oil companies in India are considering a significant reduction in petrol and diesel prices next month following robust third-quarter results that are expected to surpass a combined net profit of ₹75,000 crore.

Indian fuel prices set for potential Rs 5-10 drop next month: Report

India has announced a reduction in the windfall tax on petroleum crude, aviation turbine fuel (ATF), and diesel, offering relief to consumers and the energy industry.

India slashes windfall tax on petroleum crude, ATF, and diesel 

The cash-strapped government of Pakistan is now drilling a massive hole in the pockets of its citizens by increasing prices of petrol and diesel. The caretaker government late Friday (September 15) increased the prices of petrol and high-speed diesel (HSD) by Rs 26.

Cash-strapped Pakistan raises petrol prices to record high of over Rs 330 per litre

Nigeria has sworn in a new president, Bola Tinubu, but the leader has a myriad of challenges ahead of him as fuel prices nearly triple in the country.

Nigeria welcomes new president | World of Africa

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