The war with Iran has triggered a global surge in fuel prices, leading to significant increases in gasoline costs in many countries. Since February, fuel prices have risen almost worldwide: in the United States, gasoline has increased by 49%, while in Pakistan, it has surged by 51%. Countries in Asia and Africa, which rely heavily on imports, have been the hardest hit.
In addition to gasoline, diesel, gas, and fertilizers are also becoming more expensive. Ukrainian strikes on Russian oil refineries further exacerbate the fuel shortage. The scale of the crisis is forcing dozens of countries to introduce subsidies, cap prices, and reduce fuel taxes, while some governments are attempting to cut consumption.
The International Monetary Fund (IMF) warns that prolonged price support could severely impact budgets, particularly in poorer countries. The rising prices have already sparked protests in various nations, as the energy shock from the war has effectively spread far beyond the Middle East.