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UN warns fuel subsidies could exceed $1 trillion as Iran war raises energy costs
The brief
- UNDP said subsidies could top $1 trillion in 2026
- Governments have used price caps, subsidies and tax rebates as oil prices climbed
- Higher crude costs pressure Indian fuel retailers and government finances
- US refiners reap windfall profits as wars push up fuel prices for consumers
- EG Group delays IPO plans and draws takeover interest
- US wants European allies to do this 'immediately' to lower diesel prices
- Oil rises slightly as market weighs mixed supply signals
- Rising crude costs and unchanged pump prices squeeze fuel retailers
Iran war costs and subsidy pressures
Iranians have faced soaring costs during seven months of war. Fuel subsidies could exceed $1 trillion in 2026 as the war strains government budgets.
Friday, 2 October
- UN warns fuel subsidies could exceed $1 trillion as Iran war raises energy costs