Vanuatu

Vanuatu is experiencing high energy insecurity, stemming from its complete dependence on imported oil and its remote island nation status. Current gasoline prices stand at $1.52/L, and critically, the country holds only 15 days of fuel reserves, leaving it with minimal buffer against market shocks. Despite no direct exposure to the Strait of Hormuz, the 17 mb/d global supply deficit and high Brent prices are significantly impacting its import costs. The coming weeks are expected to bring continued economic strain and potential for fuel scarcity, necessitating urgent mitigation strategies.