⚡️🇮🇷🇺🇸 — The Iran war is driving fuel prices higher worldwide, triggering protests and straining economies with no connection to the conflict, with U.S. gasoline prices up 49% since the war began, according to Axios.
➡️ Fuel-import-dependent nations like Pakistan and Myanmar have seen steep hikes, while even the U.S., the world's largest oil and gasoline producer, faces soaring prices with no retail caps or subsidies.
➡️ Ukrainian drone strikes on Russian refineries are also boosting motor fuel prices, especially diesel. Dozens of nations have moved to cap, subsidize, or cut fuel taxes, per the IEA, while the IMF warns many measures "lack clear expiration dates or fiscal cost estimates."
➡️ Rising costs are compounding inflation, debt, and youth unemployment in Kenya, which relies heavily on Middle East imports and saw major protests in May — a warning sign for others "caught downstream of the war's economic blow."
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