US EditionFar from war, global fuel frustrations mount
Fuel prices surged 40-50% due to disrupted oil supplies from the Iran conflict, causing shortages and increased reliance on generators and alternative cooking methods worldwide.
- Around $100, benchmark oil prices are hovering, rising about 40 to 50 percent since the war against Iran disrupted supplies.
- Rising domestic gas shortages forced households and businesses in Lagos, Nigeria, to rely on private power generators, and Adeola Sanni halted hiring as petrol spending ate her budget.
- Drivers recently joined long lines for government cash handouts, while Manila drivers say fuel prices are the highest they've seen.
- French fishermen report diesel jumped from 60 cents to nearly 90 cents, risking fleets staying in port if prices hit one euro per liter, as fuel shortages disrupt fishing activities.
- Across the region, households are reverting to wood stoves as black market gas prices nearly double, and Shemshat Kurbanova, a pensioner, said 'I used to appreciate their low prices. But now everything has doubled' after Iran's export ban.
26 Articles
26 Articles
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Far from war, global fuel frustrations mount
Far from the Middle East war, fallout from oil disruptions is reverberating across the world, unsettling lives from Lagos to Manila as people adjust to fuel price hikes and gas shortages.
According to UFV, if public spending is increased, the outlook for the economy could deteriorate in the medium to long term.
Donald Trump's closest aides no longer dare to say no to him. That's a problem for Trump, writes US correspondent Ilmari Reunamäki.
Economists say risk of recession rises if oil cost hits a key benchmark as Iran war continues
Crude oil prices would need to jump considerably amid the war on Iran and stay there for at least a few weeks to put the US at a serious risk of a recession, according to a new survey of economists.
Wide-reaching fallout: Far from war, global fuel frustrations mount
Before the war, 40 oil tankers carrying 20 million barrels of crude oil and refined petroleum products crossed the Strait of Ormuz every day. This week, Iran has only allowed the passage of a handful of oil tankers, including ships flagged by India and China. Amid the rationing and scarcity of oil, [...] La entrada Countries with the greatest risk of running out of oil aparece primero en Forbes España.
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