Iran War Pushes Oil Above $100: Fuel Crisis Spreads Worldwide
- By Thetripurapost Desk, Dhaka
- Sep 16, 2026
- 188
The Iran war is pushing global crude Oil prices above $100 a barrel, with the energy crisis now affecting fuel supplies, transport, fisheries, electricity generation and industries across several countries.
The economic impact of the Iran conflict is spreading far beyond West Asia as the surge in international crude prices puts pressure on governments, businesses and consumers.
From petrol queues in Indonesia to fishing boats remaining idle in the Philippines, the latest oil shock is producing different consequences across Asia and beyond. Bangladesh's textile sector is facing disruptions linked to gas and electricity shortages, while Sri Lanka is weighing higher fuel prices against additional subsidies.
Public protests over expensive fuel have also been reported in Syria, Guatemala and Portugal, highlighting the broader social impact of rising energy costs.
Indonesia Faces Petrol Queues and Cooking Gas Shortages
Several areas of Indonesia, including parts of Sulawesi, are experiencing shortages of cooking gas and electricity disruptions. Fuel restrictions have also been introduced in some locations.
Long lines have appeared at petrol stations, with some motorists reportedly pushing motorcycles with empty fuel tanks while waiting for supplies.
Taxi drivers have protested against fuel rationing, while students in Yogyakarta have demonstrated over rising petrol prices.
Indonesia already spends significant amounts on fuel subsidies. Higher-than-expected crude oil prices are increasing the government's financial burden and making the subsidy system more expensive to maintain.
Philippines Fishermen Struggle With High Diesel Prices
Rising diesel costs are creating serious problems for fishermen around Manila Bay.
After weeks of rain, many fishermen had expected to return to the sea. However, the cost of diesel has become a major obstacle, with some unable to afford enough fuel to operate their boats.
Fishermen's association leader Fernando Hicap said many workers were ready to resume fishing but were struggling to purchase the diesel needed for their vessels.
The disruption could also affect local fish supplies if fishing activity remains below normal for an extended period.
Bangladesh Energy Crisis Hits Textile Factories
Bangladesh's dependence on imported energy is exposing its industries to the effects of the international oil crisis.
The country imports more than 90% of its petroleum requirements, with a large share of supplies originating in the Middle East.
Gas and fuel shortages have affected electricity generation and disrupted textile manufacturing. Some factories have reportedly been forced to temporarily stop production.
An official at a textile factory in Ghazipur said electricity cuts were occurring four to five times daily, with operations sometimes halted for several hours.
The textile sector is particularly important to Bangladesh because it provides substantial employment and contributes significantly to the country's exports. Continued power and gas shortages could therefore place additional pressure on industrial production.
Sri Lanka Faces Fuel Price and Subsidy Dilemma
Sri Lanka is facing another difficult decision as fuel suppliers report losses under existing retail prices.
Fuel prices are reviewed monthly, but companies supplying petrol stations have reportedly started limiting deliveries because current prices are not covering their costs.
The government can either increase petrol and diesel prices or provide additional subsidies to fuel companies.
Raising prices would increase transportation costs and could contribute to higher prices for other goods and services.
Also Read
Iran-US Conflict Pushes Global Oil Market into Turmoil as Energy Giants Reap Massive Gains--Read the full TheTripuraPost report — the article is listed on TheTripuraPost's International section dated 5 August 2026.
Expanding subsidies, meanwhile, would increase government expenditure at a time when Sri Lanka is already dealing with a heavy debt burden.
Italy Prepares for Higher Diesel Prices
Italian motorists could face another increase in diesel costs after the government ends a tax concession worth 17.08 euro cents per litre from September 18.
Diesel prices in Italy are already at their highest level in more than three years. Following the withdrawal of the tax relief, prices are expected to exceed €2.40 per litre.
For motorists filling a 50-litre tank, the increase could add around €10 to the cost of refuelling.
The Italian government is considering targeted assistance rather than extending the tax reduction to everyone. One proposal involves a €100 fuel allowance for people facing higher fuel expenses.
The proposed support could be provided through salaries and may cover both employees and self-employed workers.
Syria Raises Fuel Prices by 40%
Syria has announced a 40% increase in the prices of petrol, diesel and other petroleum products.
The announcement was followed by demonstrations in several cities. Protesters reportedly blocked roads and burned tyres while demanding that the price increase be withdrawn.
The Syrian government has linked the increase to the rising cost of fuel amid the ongoing war, saying the higher prices have become unavoidable.
Portugal Drivers Launch Slow-Speed Fuel Protest
Motorists in Portugal have adopted an unusual form of protest against expensive fuel.
A social-media campaign known as "Bujinao" has encouraged drivers to travel at very low speeds while continuously sounding their horns.
Diesel prices in Portugal have risen above $9 per gallon, increasing operating expenses for motorists and transport businesses.
Global Oil Shock Spreads Across Key Economic Sectors
The latest rise in crude prices demonstrates how an international energy shock can quickly move through national economies.
The effects are no longer confined to petrol stations. Higher fuel costs are affecting public transport, freight, fishing, agriculture, electricity generation, factories, food supply chains and government budgets.
For countries dependent on imported energy, prolonged high crude prices could create additional inflationary and fiscal pressures.
The developments in Indonesia, the Philippines, Bangladesh, Sri Lanka, Italy, Syria and Portugal show how the same global oil shock can produce very different consequences depending on each country's energy policy, subsidy structure and dependence on imported fuel.
For more latest news, breaking updates and in-depth analysis from Tripura, Northeast India and around the world, visit The Tripura Post — your trusted source for news, views and analysis