Iran war
Fuel crisis closes 425 gas stations nationwide
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A total of 425 out of 14,485 gas stations nationwide were temporarily closed as of March 27 due to the fuel crisis triggered by the Iran war, according to the Philippine National Police. The Cordillera Administrative Region recorded the highest number at 79, while President Ferdinand Marcos Jr. declared a national energy emergency.
South African petrol prices will rise by R3.06 per litre to R23.25 inland from midnight on 1 April, while diesel reaches a record R26.11 per litre after a R7.51 increase. The hike stems from global oil prices exceeding $100 per barrel amid the Iran war and a weakened rand. A temporary R3 per litre reduction in the fuel levy cushions the impact.
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US President Donald Trump criticized France for refusing overflights to military planes bound for Israel during operations against Iran, warning the US would remember the lack of support. France reaffirmed its neutral stance, while Israel responded by halting new defense procurements from Paris.
As detailed in earlier coverage of initial BRICS fractures and market shocks from the US-Israeli war on Iran, the bloc's expanded membership continues to hinder a unified response. New members Iran and UAE are directly opposed, with India's chairmanship reluctant to force consensus ahead of its summit.