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Kuala Lumpur – Fuel prices across Southeast Asia have seen significant increases following tensions and disruptions linked to the Strait of Hormuz conflict, one of the world’s most critical shipping routes.
A comparative analysis of gasoline prices before and after the conflict shows sharp spikes in multiple ASEAN countries, with some nations experiencing price hikes of over 100 percent.
| No | Country | Fuel Type | Pre-Conflict (Jan/Feb) | Current Price (Mar 27) | Change |
|---|---|---|---|---|---|
| 1 | Indonesia | Gasoline (RON 92) | ~$0.78 | ~$0.83 | +5.7% |
| 2 | Malaysia | Gasoline (RON 95)* | ~$0.43 | ~$0.82 | +125% |
| 3 | Thailand | Gasohol 95 | ~$0.88 | ~$1.12 | +27% |
| 4 | Singapore | Gasoline (RON 95) | ~$2.13 | ~$2.60 | +37% |
| 5 | Vietnam | Gasoline (RON 95) | ~$0.81 | ~$1.61 | +100% |
| 6 | Philippines | Gasoline (Premium) | ~$1.04 | ~$1.74 | +67% |
Malaysia recorded the highest increase among the six countries analyzed. The price of RON 95 gasoline surged by approximately 125%, rising from around $0.43 per liter in January–February to about $0.82 per liter by March 27.
Vietnam followed closely, with fuel prices doubling (+100%), climbing from roughly $0.81 to $1.61 per liter. The Philippines also saw a notable increase of 67%, while Singapore experienced a 37% rise, pushing prices to about $2.60 per liter — the highest in the region.
Thailand reported a moderate increase of 27%, while Indonesia recorded the smallest change among the group, with prices rising by 5.7% to approximately $0.83 per liter.
Energy analysts point to supply chain disruptions and rising global oil prices as key factors behind the surge. The Strait of Hormuz, which handles a significant portion of global oil shipments, plays a crucial role in stabilizing fuel markets. Any instability in the region directly impacts fuel costs worldwide, including in Southeast Asia.
Despite the varying degrees of increase, the overall trend highlights the vulnerability of ASEAN economies to global geopolitical tensions, particularly in energy supply routes.
Experts warn that if the conflict persists, fuel prices could continue to rise, putting additional pressure on inflation and household spending across the region.
