Petrol Prices Rise Worldwide Amid Geopolitical Tensions Tightening Global Supply

Rising tensions involving the United States, Israel and Iran have tightened oil supplies and lifted fuel costs worldwide. Pricing data reviewed from Global Petrol Prices showed broad increases after February 28. At least 85 countries reported higher petrol rates following the first strikes on Iran by the United States and Israel, according to Al Jazeera.

Even with this global rise, India has kept retail petrol and diesel rates unchanged so far. Nearby markets have moved faster. Pakistan has already raised pump prices sharply, while Bangladesh has faced fuel supply problems. These regional moves have increased attention on how long India can hold steady.

Volatility in crude prices still shaped market expectations. The Times of India reported Brent crude briefly rose near $120 a barrel earlier this week. It later fell back below $90. On March 10, Delhi petrol cost about Rs 94.77 per litre. Diesel in Delhi stood at Rs 87.67 per litre.

Major cities showed higher petrol prices, while diesel stayed cheaper. The figures below reflect prices reported for March 10.

City	Petrol (Rs/litre)	Diesel (Rs/litre)
Delhi	94.77	87.67
Mumbai	103.50	—
Kolkata	105.45	—
Chennai	101.23	92.39

Several countries logged steep petrol price gains over the same period. Vietnam saw the largest rise, close to 50 per cent. The 95-octane price moved from about $0.75 per litre on February 23 to $1.13 by March 9. Laos rose 33 per cent, and Cambodia increased 19 per cent.

Advanced markets also recorded notable increases. Australia’s petrol prices rose by around 18 per cent. The United States saw a rise of about 17 per cent. These moves reflected the broader reaction to supply risk and shifting crude prices across regions.

Petrol prices elsewhere: mixed rises and small changes

Al Jazeera also flagged other increases. Seychelles rose 13.04 per cent to $1.52 per litre. Lebanon increased 12.25 per cent to $1.02 per litre. Canada climbed 11.64 per cent to $1.30 per litre. Austria rose 11.59 per cent to $1.98 per litre. China gained 10.45 per cent to $1.19.

Nigeria reported an 11.78 per cent rise to $0.66 per litre. Some countries saw only small gains. Ghana and Barbados rose 0.48 per cent each. Georgia rose 0.44 per cent, and Kyrgyzstan 0.33 per cent. Peru increased 0.08 per cent. Against this backdrop, India’s pump prices stayed unchanged into March 10.