Uganda

Uganda is highly vulnerable to the current crisis, with gasoline at $1.32/L and a critically low 15 days of reserves, stemming from its 100% oil import dependency. As a landlocked nation, fuel transport costs are significantly amplifying the crisis's impact, contributing to a moderate food risk with fertilizer prices up 70%. Despite low direct Hormuz exposure, the global oil supply deficit of 17 mb/d is severely testing its economic stability. The outlook is challenging, with persistent fuel shortages and inflationary pressures expected to intensify in the short term.