Cape Verde

Cape Verde, as an island nation with 100% oil import dependency, faces significant energy security challenges amidst the current global crisis. Gasoline prices are elevated at $1.42/L, and critically, the country holds only 18 days of fuel reserves, leaving it highly exposed to supply interruptions and price spikes. The moderate food risk, compounded by a 62% increase in fertilizer costs, threatens agricultural output and food affordability for its population. Despite low direct exposure to the Strait of Hormuz, the severe global supply deficit and sustained high Brent crude prices will continue to pressure its economy, demanding urgent strategies to secure fuel and essential goods in the coming weeks.