APAC Fuel Crunch:

Asia Energy Emergency

Australia’s Low Fuel Reserves

Soaring Airfares

Jet Fuel Hoarding

Japan Spot Power Surges to Three-Year High as War Boosts Fuels

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Take our Survey

March 31, 2026 at 4:21 AM UTC

Spot power prices in Japan surged to a three-year high, as the war in the Middle East boosts fuel costs for economies across Asia.

The next-day delivery price jumped to 23.15 yen (14 cents) per kilowatt-hour on Tuesday, up 32% from a week ago and the highest level since January 2023.