Sri Lanka is in a mess as they have run out of petrol, medicines and foreign reserves. The measures needed to pull the economy out of this crisis could bring even more pain. The Island nation has suspended sovereign debt payments.

Sri Lanka suspends sovereign debt payments amid economic crisis

When the global prices for fuel are rising, motorcyclists in the Philippines are buying domestic fuel for cheaper rates. People here are still buying fuel at older prices, but how?

People in this country are buying fuel at cheaper prices, but how?

The retail price of fuel has been increasing consistently for a fortnight in India it has been high by 80 paise today leaving consumers with a hole in their pocket.

India: 14th fuel price hike in 16 days | Petrol price hike

For the first time since 2008, the average cost of a gallon of normal gasoline has reached $4. In electronic trading on the New York Mercantile Exchange, U.S. crude rose $5.

For the first time since 2008, gas prices in US surpassed $4 per gallon

Sri Lankan government has run out of cash to buy fuel. Most of the pumps at the fueling station across the country are running dry. Two shipments of fuel arrived in the country but it was unable to pay for it.

Sri Lankan govt runs out of cash to buy fuel, petrol pumps running dry

Pakistan government on Tuesday announced the Rs12.03 hike in fuel prices, and with this, the prices of petroleum have reached a historic high in the country.

Pakistan increases petrol prices by Rs12.03 per litre

Even as severe foreign exchange crisis torments Sri Lanka, the price hike of petrol and diesel has worsened the situation in the island country. In order to seek respite, the government has started negotiations with India and Oman to come up with credit lines for purchases of fuel.

Petrol, diesel price hike in Sri Lanka forces govt to seek help from India, Oman

Pakistan’s petroleum dealers launched a nationwide protest against the government on Thursday for failing to raise their profit margins. Several privately-owned petrol stations were closed across the country in response to the call by the Pakistan Petroleum Dealers Association (PPDA).

Pakistan petroleum dealers launch nationwide strike against lower profit margins

The United States is expected to announce a loan of crude oil from its emergency stockpile on Tuesday as part of a plan it hashed out with major Asian energy consumers to lower energy prices, a Biden administration source familiar with the situation said.

US set to unveil emergency oil release in bid to fight high prices

The BJP on Wednesday hailed the central government's decision to reduce petrol and diesel prices as Prime Minister Narendra Modi's Diwali gift. Bharatiya Janata Party (BJP) president J P Nadda said the decision will boost consumption and keep the inflation low.

BJP lauds cut in petrol, diesel prices

The petrol and diesel prices continued to soar for the fourth consecutive day on Sunday, with the fuel rates retailing in India’s Madhya Pradesh state retailing highest in the country.

Fuel rates soar for fourth consecutive day in India, petrol in Madhya Pradesh retailing highest

Due to rising costs and decreasing supplies of the fuel needed for heating, producing electricity, and powering vehicles and trucks, gas stations in several regions of China have begun rationing diesel supply.

Due to fuel shortages, China rations diesel 

Britain ordered soldiers on Wednesday to start driving fuel tankers to replenish empty pumps, as motorists remained mired in queues after nearly a week of shortages, despite Prime Minister Boris Johnson saying the situation was improving.

British army to start driving tankers, fuel queues persist

Up to 90% of the pumps in major British cities were out of fuel today. Reports say UK Prime Minister Boris Johnson could consider using the army to deliver fuel to petrol stations. Palki Sharma tells you more.

Gravitas US Edition: Will the UK use the Army to transport petrol?

The United Kingdom is struggling with a drivers' drought. Supply chains have been crippled. Petrol pumps are running dry. Motorists are struggling with empty tanks. 5,000 new visas are expected to be issued for foreign drivers. Palki Sharma gets you a report.

Gravitas US Edition: Drivers' drought leaves UK without fuel

As part of a broader package of green initiatives aimed at achieving net-zero emissions from all forms of transport ten years later, Britain will ban the sale of new petrol and diesel heavy good vehicles from 2040.

World Business Watch: Britain to ban sale of new diesel and petrol heavy goods vehicles from 2040

Despite a jump in prices, oil exporters are losing cash. World's biggest oil economies are still bleeding, while major oil companies are reporting staggering losses. The worst may be yet to come. WION's Palki Sharma tells you why.

Gravitas: Despite a price jump, major oil exporters are losing cash

Oil prices are skyrocketing in India. Global oil prices are touching new highs. Why are Indians paying so much for oil? Will we have to keep paying more? WION's Palki Sharma tells you how a meeting next month could decide what you pay for fuel.

Gravitas: 2 factors are dictating how much you spend on fuel

India is the world's third-largest oil market. It imports nearly 85% of its crude. Petrol prices in India have crossed 100 rupees/litre. What can the govt do to help consumers? WION's Palki Sharma has the details.

Gravitas: What's India's Oil Strategy?

India: Why oil is so expensive and what could be done India is the world's third-largest oil market and depends heavily on crude oil to fuel its dreams and development.

Why oil is expensive in India, and what the government could do

Petrol and diesel prices maintained a northward rally on Monday, the seventh consecutive day when the retail prices have risen across the country, with oil on the boil in global markets and both crude and product prices seeing a big spike.

Petrol, diesel prices rise for 7th consecutive day

Petrol prices in India have touched an all-time high level, with a litre of the transportation fuel selling at ₹84.20 in Delhi on Thursday. The increase in fuel prices comes after a jump in oil prices in the international market, where brent crude is currently trading at close to $55 a barrel, a $ 5 increase in just around a weeks’ time.

Petrol price at all-time high; citizens worry whether it will reach ₹ 100/litre

For the sixth consecutive day, prices of petrol and diesel rose on Monday as they approach towards the highest-ever spike. As per the latest price revision by oil marketing companies, the price of petrol was hiked by 30 paise per litre (USD 0.

Petrol, diesel prices rise for sixth day in a row; set for all all-time high

Fuel prices remained unchanged on Saturday making it the fifth consecutive day when pump prices of petrol and diesel have remained static. Fuel prices have gone for a longer pause after rising on 22 of the past 28 days.

Petrol, diesel prices unchanged for fifth consecutive day

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