Madagascar

Madagascar faces high energy security risk due to its 100% oil import dependency and remote island geography, which amplifies supply costs amidst the current global oil disruption. Gasoline prices are already elevated at $1.28/L, and with only 18 days of reserves, the country is highly vulnerable to supply shocks. The high food risk and a 72% increase in fertilizer costs threaten agricultural stability and food security. The outlook for the coming weeks is challenging, with sustained high prices and potential for fuel rationing if global supply constraints persist.