Marshall Islands

The Marshall Islands are critically exposed to the global energy crisis, importing 100% of their oil with a mere 10 days of reserves, resulting in gasoline prices of $1.62/L. This situation compounds existing climate and energy challenges, as the nation grapples with both rising sea levels and soaring fuel costs. While not directly affected by Hormuz disruptions, the global supply crunch and $94.73/bbl Brent crude prices severely impact its import budget and overall economic stability. The moderate food risk and a 65% increase in fertilizer costs further highlight the comprehensive economic pressure. The outlook for the Marshall Islands is precarious, with sustained high energy costs expected to strain public services and increase the cost of living in the coming weeks.