Benin

Benin is highly vulnerable to the global oil crisis, importing all its oil with gasoline now priced at $1.15/L and only 18 days of reserves. While its direct Hormuz exposure is low, the global supply crunch and elevated Brent crude prices are severely impacting its economy. The Cotonou port, vital for landlocked neighbors, is experiencing significant operational stress due to fuel scarcity and cost increases. A 65% surge in fertilizer prices contributes to a moderate food risk, threatening agricultural output and food affordability. The outlook for Benin is challenging, with sustained pressure on its economy and regional trade functions unless global oil markets stabilize or emergency fuel supplies are secured.