Prices for commercial LPG have increased by Rs 195.50, premium petrol by Rs 11 per litre to Rs 160, and jet fuel has crossed Rs 2 lakh per kilolitre, with these surges attributed to escalating global oil prices linked to the West Asia conflict. The US-Israel war with Iran is directly hitting India's aviation and hospitality sectors, causing record-breaking aviation fuel prices and more expensive commercial LPG cylinders.
As of March 27, 425 out of 14,485 gas stations across the Philippines have temporarily closed due to an ongoing fuel crisis, according to the Philippine National Police.
The Middle East conflict continues to fuel inflation and impact global economies, leading to growing doubt among UK shoppers and prompting governments like India and Albania to implement measures such as export duties, reduced excise taxes, and price board meetings to stabilize fuel prices. Spanish families are also saving more amidst rising inflation, while European fund managers advise on investment strategies to mitigate risks.
Brazilian oil company Petrobras is set to purchase Petronas' 50% stake in the Campos Basin for $450 million, expanding its offshore oil and gas assets.
Malaysia's highest court has granted national energy firm Petronas the right to legally challenge several laws passed by the state of Sarawak, escalating a dispute over gas distribution rights.
The High Court has scheduled April 7, 2026, for the mention of Petronas' judicial review application concerning RM120 million in gas penalties imposed by Sarawak.
A constitutional battle over energy wealth in Malaysian Borneo between Sarawak and Petronas has reached the country's highest court, testing Prime Minister Anwar Ibrahim's ability to maintain his ruling coalition.
Malaysian universities recorded an overall improvement in the QS global subject rankings, with Universiti Teknologi Petronas (UTP) achieving a historic top 10 global ranking, though Universiti Malaya (UM) saw a decline.
Sarawak, on Borneo island, is home to more than 60 per cent of Malaysia's gas reserves and has long sought greater control over its natural resources.
Malaysia's state-owned energy company, Petronas, has reported a new hydrocarbon discovery in the North Ketapang Block, located off the coast of Indonesia.
An unprecedented legal showdown between the Sarawak state government and national oil corporation Petronas over hydrocarbon resource ownership could change long-assumed understandings of federal power in Malaysia, say analysts.
The move follows an application in January filed by Petronas, the energy firm owned by Malaysia's federal government, seeking clarity about the legal and regulatory framework governing its operations in Sarawak.
