International News 08 April 2026
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China Raises Fuel Prices Again as Gasoline and Diesel Surge
China has once again raised the maximum retail prices for gasoline and diesel in the domestic market, following a surge in global oil prices. According to a statement cited by Reuters on Tuesday (April 7, 2026), the National Development and Reform Commission (NDRC) announced that gasoline prices were increased by 420 yuan (US$61.11) per ton, while diesel prices rose by 400 yuan (US$58.20) per ton, effective Tuesday evening. The agency stated that the move is part of the government’s efforts to align domestic fuel prices with international oil market trends while maintaining stability in the local market.
https://internasional.kontan.co.id/news/china-kembali-naikkan-harga-bbm-bensin-dan-solar-melonjak
IEA: Today’s Oil and Gas Crisis Surpasses 1973, 1979, and 2002 Combined
Fatih Birol, the head of the International Energy Agency, stated that the current oil and gas crisis triggered by the blockade of the Strait of Hormuz is more severe than the combined energy crises of 1973, 1979, and 2002. In an interview with Le Figaro, as reported by Reuters on Tuesday (April 7, 2026), Birol emphasized that the world has never faced such a large-scale disruption in energy supply. He added that the impact will be widespread, affecting regions from Europe to Japan and Australia, with developing countries expected to bear the greatest burden.
Rupiah and Ringgit Lead Losses in Tuesday Morning Trade, Other Asian Currencies Steady
The Indonesian rupiah and Malaysian ringgit weakened in Tuesday morning trading (April 7, 2026), while other Asian currencies remained relatively stable, according to the latest market data. Based on a report from Reuters, the rupiah depreciated to 17,075 per US dollar, down 0.26% from its previous level of 17,030. Similarly, the Malaysian ringgit fell 0.25% to 4.035 per US dollar, compared to 4.025 a day earlier. Meanwhile, other major Asian currencies posted only minor movements, with the Japanese yen slipping 0.13% to 159.88 per dollar, the Singapore dollar weakening 0.16% to 1.287, the South Korean won declining 0.08% to 1,511, and the Philippine peso dropping 0.24% to 60.15.