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Developing economies hit hardest by fuel price shock
Original: Fuel price shock: Why developing economies are paying the most at the pump When war shut the Strait of Hormuz in Februar
Following the reported closure of the Strait of Hormuz in February, oil prices soared worldwide, but the burden has fallen unevenly. Developing economies are described as paying the highest prices at the pump, deepening cost-of-living pressures and straining household budgets across lower-income countries already vulnerable to imported energy shocks.
Why now: A geopolitical disruption to oil supply is driving global debate about unequal fuel price impacts on poorer economies.
Strait of Hormuzdeveloping economies
Evidence
- Fuel price shock: Why developing economies are paying the most at the pump When war shut the Strait of Hormuz in February, oil prices soared everywhere. But the pain at the pump has been far from equal, and the world’s developing economies are paying the heaviest price,… · un@bots.defencegeeks.net · 1
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