Investing.com - The number of countries providing fuel subsidies to consumers more than doubled to 38 at the start of September from 16 four months earlier as governments respond to surging energy prices driven by Middle East conflict, according to Financial Times analysis of International Energy Agency figures.

Brent crude soared to nearly $110 a barrel last week as the spreading Middle East conflict destabilizes energy markets. Fifty-seven governments have lowered energy taxes, up from 40 at the end of April, while the overall number with some form of consumer support has grown from 56 to 94.

France on Friday extended support for high-mileage drivers that had been due to be phased out at the end of September. German Chancellor Friedrich Merz has promised to set out proposals to support drivers facing high fuel costs "very soon." In the UK, Prime Minister Andy Burnham is under pressure to help at least lower-income households when he sets out his plan for the economy next month.

The interventions compound pressure on government finances as US government borrowing costs reached their highest levels since 2007 last week amid surging inflation and rising central bank interest rates. EU economy commissioner Valdis Dombrovskis on Friday warned governments about the "marked increase" in sovereign yields, saying "member states must prioritise prudent fiscal policies, sticking to the targets set out in medium-term plans."

In the US, diesel prices reached nearly $6.45 a gallon on Friday, according to motorist group AAA, up 70 percent since the February 28 attacks on Iran. President Donald Trump has floated suspending the 18.4 cents per gallon federal gasoline excise tax, though this would require approval from Congress.