Fuel Prices

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South Korean PM Kim Min-seok addresses meeting on extending fuel price caps amid Middle East supply crisis.
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PM to decide on fuel price caps after review

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Prime Minister Kim Min-seok said Wednesday the government will decide whether to extend fuel price caps after a careful review, as the temporary measure expires this week. Introduced in mid-March to counter supply disruptions from the Middle East conflict, the system has shown positive effects despite mixed opinions. Kim made the remarks at a meeting on the crisis's economic impact.

India's retail inflation for April rose to a 13-month high of 3.48 percent, while wholesale inflation more than doubled to 8.3 percent. The increases are driven mainly by higher fuel and food costs amid the ongoing conflict in the Middle East.

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South African employers are being advised against retrenchments despite rising fuel prices caused by the Middle East conflict. Experts describe the situation as a temporary oil shock rather than a full economic crisis. They recommend short-term measures such as hybrid work instead of permanent job cuts.

Amnesty International has warned Kenya's National Police Service against using excessive force during expected protests on Tuesday, April 21. The alert comes amid public anger over recent fuel price hikes announced by the Energy and Petroleum Regulatory Authority (EPRA). The group urged Inspector General Douglas Kanja to protect demonstrators.

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Transport group Manibela announced a nationwide strike from April 15 to 17, coinciding with the government's service contracting program rollout. The action responds to high fuel prices and demands a rollback to P55 per liter. Chairman Mar Valbuena criticized the government's inadequate response to oil price shocks.

Cebu Pacific has announced cancellations and reductions in international flights due to global fuel prices more than doubling from 2025 averages. Affected routes include those from Davao, Iloilo, Clark, and Manila to various destinations. Passengers have reported disruptions on a March 22 flight.

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A newly formed Senate ad hoc committee on Middle East crisis response will hold its first hearing on Tuesday, chairman Sen. Sherwin Gatchalian announced. The Proactive Response and Oversight for Timely and Effective Crisis Strategy committee aims to check funds in the 2026 General Appropriations Act to address the crisis from US-Israel attacks on Iran. Fuel prices are soaring, threatening food security.

 

 

 

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