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Pacific fuel crisis exposes gap between renewable targets and delivery
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Devpolicy Blog from the Development Policy Centre+2 Reposted by 2 other sources
Pacific fuel crisis exposes gap between renewable targets and delivery
The surge in global oil prices following the US-Iran conflict has exposed the extent of Pacific economies’ vulnerability to fuel supply shocks. At its peak, prices climbed to over US$118 per barrel, placing immediate pressure on the region. In Fiji and Solomon Islands, reserves fell to as little as 20 days remaining, while in Papua New Guinea rising fuel costs sharply increased transport and service prices. The result was inflation and heightene…
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