Zürcher Nachrichten - Far from war, global fuel frustrations mount

EUR -
AED 4.184829
AFN 71.778596
ALL 94.713473
AMD 419.412877
ANG 2.039871
AOA 1044.771654
ARS 1684.037898
AUD 1.65217
AWG 2.052229
AZN 1.941395
BAM 1.954275
BBD 2.295209
BDT 140.170644
BGN 1.926481
BHD 0.429577
BIF 3389.525002
BMD 1.139336
BND 1.47455
BOB 7.875167
BRL 5.89839
BSD 1.139611
BTN 106.961675
BWP 15.487597
BYN 3.305121
BYR 22330.988246
BZD 2.291872
CAD 1.617003
CDF 2583.449152
CHF 0.922361
CLF 0.026741
CLP 1052.462206
CNY 7.745378
CNH 7.752824
COP 3933.97956
CRC 517.396348
CUC 1.139336
CUP 30.192408
CVE 110.800888
CZK 24.27816
DJF 202.483266
DKK 7.480658
DOP 67.680991
DZD 151.951028
EGP 56.43136
ERN 17.090042
ETB 180.756124
FJD 2.576894
FKP 0.862156
GBP 0.863068
GEL 3.01359
GGP 0.862156
GHS 12.817976
GIP 0.862156
GMD 83.171943
GNF 10003.37167
GTQ 8.694217
GYD 238.503349
HKD 8.935643
HNL 30.443504
HRK 7.539903
HTG 148.9438
HUF 354.163079
IDR 20349.226973
ILS 3.420345
IMP 0.862156
INR 107.467926
IQD 1492.530337
IRR 1566872.020062
ISK 144.115067
JEP 0.862156
JMD 179.479977
JOD 0.807834
JPY 184.272854
KES 147.320493
KGS 99.635383
KHR 4571.590567
KMF 494.472282
KPW 1025.40292
KRW 1749.519432
KWD 0.35275
KYD 0.949701
KZT 552.928627
LAK 25139.452216
LBP 102027.551287
LKR 383.077949
LRD 207.644445
LSL 18.902021
LTL 3.364164
LVL 0.689173
LYD 7.297492
MAD 10.727424
MDL 20.206123
MGA 4813.695565
MKD 61.682975
MMK 2391.979433
MNT 4079.099526
MOP 9.205882
MRU 45.65363
MUR 54.380945
MVR 17.603174
MWK 1979.027259
MXN 19.943058
MYR 4.65765
MZN 72.807828
NAD 18.902016
NGN 1567.875065
NIO 41.711525
NOK 11.31707
NPR 171.141482
NZD 2.017953
OMR 0.438641
PAB 1.139661
PEN 3.898852
PGK 4.993996
PHP 69.855021
PKR 316.792839
PLN 4.291823
PYG 6955.543036
QAR 4.152924
RON 5.244483
RSD 117.477374
RUB 89.906115
RWF 1670.266774
SAR 4.278251
SBD 9.173881
SCR 14.7775
SDG 683.602068
SEK 11.094411
SGD 1.474647
SHP 0.850629
SLE 28.259714
SLL 23891.313258
SOS 651.134774
SRD 42.70578
STD 23581.957684
STN 25.065395
SVC 9.971177
SYP 125.933213
SZL 18.902007
THB 37.947303
TJS 10.547288
TMT 3.987676
TND 3.346804
TOP 2.743248
TRY 53.039861
TTD 7.744822
TWD 36.299026
TZS 2996.451799
UAH 51.151345
UGX 4182.626747
USD 1.139336
UYU 45.746318
UZS 13689.124042
VES 707.246307
VND 29964.540351
VUV 136.6644
WST 3.173617
XAF 655.445647
XAG 0.019435
XAU 0.00028
XCD 3.079113
XCG 2.053798
XDR 0.816281
XOF 652.839983
XPF 119.331742
YER 271.874128
ZAR 19.349192
ZMK 10255.396502
ZMW 20.528345
ZWL 366.865771
  • RYCEF

    0.7000

    18.7

    +3.74%

  • RBGPF

    0.0000

    61.3

    0%

  • CMSC

    -0.1160

    21.93

    -0.53%

  • BCC

    1.2600

    81.02

    +1.56%

  • NGG

    -0.4100

    83.01

    -0.49%

  • BCE

    -0.2800

    22.92

    -1.22%

  • GSK

    0.6100

    52.5

    +1.16%

  • VOD

    0.0300

    13.89

    +0.22%

  • RELX

    0.4200

    31.34

    +1.34%

  • CMSD

    -0.1600

    21.77

    -0.73%

  • RIO

    -1.3700

    93.74

    -1.46%

  • BTI

    0.2800

    62.76

    +0.45%

  • JRI

    0.2100

    12.79

    +1.64%

  • AZN

    2.7300

    188.41

    +1.45%

  • BP

    -0.5900

    37.13

    -1.59%

Far from war, global fuel frustrations mount
Far from war, global fuel frustrations mount / Photo: Light Oriye Tamunotonye - AFP

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.

Text size:

Benchmark oil prices are hovering around $100, a surge of around 40 to 50 percent since the war against Iran began to disrupt oil supplies.

Weeks before war broke out, Adeola Sanni, a 36-year-old Nigerian entrepreneur making corporate uniforms in Lagos, had planned to hire an additional worker.

Now those plans are on hold as her budget is eaten up buying petrol to power up generators to run her sewing machines after fuel prices jumped about 20 percent in Africa's most populous country.

Nigeria's electricity supply is unstable at the best of times, but has worsened in recent weeks due to gas supply shortages, forcing businesses and households to spend more on private power generators.

"I am currently spending more than 33 percent more on fuel than I used to," Sanni, told AFP.

In Nigeria, petrol prices rose recently from 830 naira a litre in Lagos to 1,250 naira ($0.59 to $0.90) -- a record high in a country where the pump price was just 195 naira at the beginning of 2023 -- before easing to 1,130.

Public transport fares have jumped by as much as a third adding to the misery of passengers still reeling from a cost of living crisis caused by reforms that slashed fuel subsidies.

- Plans in disarray -

Indians like housewife Kriti Prasad have been found themselves desperately hunting for cooking gas as supplies dwindle. People have been queuing up across the country outside gas cylinder agencies.

Electric induction stovetops have also been selling out in India as households rush to find alternatives. Those needs can be especially acute during religious festivals like Eid for Muslims and the approaching Hindu festival of Chhath.

"I have been trying to book a gas cylinder for days now but I have had no luck so far. This has thrown all our plans in disarray," Prasad, 43, told AFP.

"The government is saying there is no need to panic but the ground reality is different."

Small and medium-sized Indian restaurants have also been forced to alter menus as authorities prioritize household supplies of gas. With black market gas prices nearly double, some are looking to cook on wood stoves or use less energy-consuming methods.

- 'No one wins in war' -

In the Philippines, some tricycle taxi drivers have seen fuel price hikes slash their daily earnings in half.

Romeo Cipriano has been driving a tricycle in Manila for four decades and says fuel prices are now the highest he has seen.

He recently joined hundreds of drivers lining up for cash handouts of 5,000 pesos ($84) that the government hopes will provide temporary relief.

Patiently awaiting his subsidy at the Manila community centre, Cipriano said he could only pray for a quick end to the war.

"We're not the only ones affected," he said. "No one wins in war."

Authorities have also increased fares on some local transport to offset fuel costs.

- 'Critical' diesel costs -

French fisherman David Le Quintrec said diesel prices for vessels had seen an "enormous" increase, forcing them to sail shorter distances to save on fuel.

"Diesel has reached a price that's quite critical for us," said Le Quintrec, unloading sole and sea bass caught recently overnight at the port of Lorient.

The fisherman, who also heads the French Union of Artisanal Fishermen (UFPA), has seen fuel prices skyrocket in just 10 days, from 60 cents a liter to nearly 90 cents.

Not far away, fishing operations mananger Jerome Nicol, sees little hope. If diesel reaches one euro per liter, his fleet's five trawlers will remain in port because it will no longer be profitable to send them out.

"For boats consuming more than a tonne of fuel per day, that's several hundred euros more," he said.

- Iranian veggies, cigarettes -

Just over the border from Iran, in the Turkmenistan capital Ashgabat, pensioner Shemshat Kurbanova is used to buying Iranian juices and fruits. But now most of the products have shot up in price.

Iran has banned all goods and agricultural exports, triggering economic pressure on Turkmenistan and the wider Central Asia region, where Tehran has had a growing economic influence.

"I used to appreciate their low prices. But now everything has doubled," Kurbanova said.

Government worker Kerim Ballyev has curbed his heavy consumption of Iranian cigarettes.

"It's too expensive for me," he said. "I won't be buying a whole pack, I'll buy them individually."

- No fuel, no job -

In Thailand, from the capital Bangkok to the northern Chiang Rai, drivers and riders are lining up for fuel as they face worsening shortages worsened and rising prices.

Grab food delivery rider Oracha, 48, said she was losing money because she has to switch off her app to search for fuel for an hour.

"I lose my income for that hour," she said, adding she normally makes 30 to 50 baht ($0.92 to $1.53) an hour and has to work longer to make up for lost time.

"If there's no fuel, it feels like I don't have a job at all."

burs/rl

N.Zaugg--NZN