by Coinstrooper Crypto Articles
Quick Take
  • And, at least five countries are rationing fuel or reporting empty pumps as of September 19.
  • Brent crude traded at nearly $110 this month, its strongest level since spring.
  • The Strait of Hormuz has been largely shut since Iran retaliated for US and Israeli strikes on February 28.
  • Houthi advances at the Bab al-Mandab chokepoint this month have now squeezed the main bypass route as well.

What Happened

It’s day 203 of the Iran war. And, at least five countries are rationing fuel or reporting empty pumps as of September 19. Brent crude traded at nearly $110 this month, its strongest level since spring.

The Strait of Hormuz has been largely shut since Iran retaliated for US and Israeli strikes on February 28. Houthi advances at the Bab al-Mandab chokepoint this month have now squeezed the main bypass route as well.

The International Energy Agency (IEA) says refined shipments leaving the Gulf still run below half their February pace. Russian diesel exports have roughly halved since June, per the IRU.

Market Context

The crisis is now also a refined-product problem, not just a crude problem. Vitol CEO Russell Hardy said at the Asia-Pacific Petroleum Conference that the market is missing about 2 million barrels a day of products from Russia and almost 2 million more from the Middle East.

The government has answered with energy rationing. Shops, markets, and shopping centres must shut by 8 PM, an hour earlier than before, and lit billboards go dark from 7 PM. Only hospitals, pharmacies, food shops, and emergency services are exempt.

Why It Matters

President Emmanuel Macron said on September 18 that France may release strategic reserves and wants a G7 meeting on coordinated action.

The bigger risk is winter. Pakistan must lock in oil and gas cargoes before November, when global demand rises, and Red Sea detours add about 10 days to each voyage.

Details

The 5 Countries Rationing Fuel or Reporting Stockouts

1. France

Between 10% and 12% of French stations were out of at least one fuel from September 13 to 15, according to government prix-carburant data cited by Connexion. Grand Est reached 14%.

SP95-E5 petrol hit an all-time record of €2.17 a litre after six straight weekly rises. Diesel is within 1% of the record set in April.

“In the coming weeks, we ​will hold a G7 meeting dedicated ​to these energy issues, both to strengthen cooperation and avoid unnecessary tensions among G7 countries ​and our key partners, and ​to consider options for potential releases from strategic ‌reserves ⁠or the lifting of restrictions, as we did a few months ago,” Macron said.

France holds roughly 118 days of net import cover in strategic oil reserves, yet its pumps are still running dry, which shows the bottleneck is refined product logistics rather than crude.

That distribution gap is now spilling into the streets. For instance, on September 15, Fishermen blockaded the Fos-sur-Mer depot and clashed with police.

2. Pakistan

Pakistan lifted its emergency fuel curbs on June 20. Eighty-nine days later, it brought them all back.

From September 17, shops and malls across Pakistan must close by 09:00 PM, wedding halls by 10:00 PM, and restaurants by 11:00 PM. This Cabinet Division order runs for the next three months.

Moreover, government vehicles lose 50% of their fuel allocation, with security fleets exempt.

The government banned new vehicle purchases and official foreign travel, and ordered a 5% cut to non-employee spending for fiscal 2026-27.

3. Bangladesh

Bangladesh imports more than 90% of its petroleum, and Dhaka, a city of almost 40 million, now runs on a timetable set by gas pressure. Residents plan their days around when the stove will light, how long a fan can run, and how far the petrol queue stretches.

For many households, cooking has shifted to 01:00 AM, the only hour when piped gas is strong enough to use, The Guardian reported. One bank employee told the paper she sleeps three hours a night before a full day at the office.

“I don’t want anything extraordinary from the government; I want to turn on the stove and find gas, I want to switch on the light and find electricity, I want clean water from the tap. These are not luxuries.” the bank employee told The Guardian.

Industry is taking the same hit. Garment factories, the country’s main source of foreign currency, face rationing and temporary closures, and one Gazipur plant reported four or five power cuts a day.