How’s the current situation in your country amid the war?

[Lida93]

Obviously, our country isn’t prepared for this one. And I’m worried of how big this problem will be in the next coming days.

Definitely I can say no country actually prepared for this except for the perpetrators of the war who must have made plans ahead towards their actions.

Good for your country to an extend that there's an oil reserve that could last for 60 by estimate, but what about those countries that has no reserve for situations of kindness, I can imagine how the queues for panic buying in the filling stations could look like amidst hiking price.
It's no better the situation in my own country, despite the politically-working  refineries in my country as an oil producing country, still, there's an everyday pump price increase and it's really gonna be worse in the days ahead, provided this madness called war continues.m, because it has really affected other socioeconomic factors.

[Stepstowealth]

Some gasoline stations already put up “out of stock” signage. It could be that they’re just hoarding it till the price increases even more. But regardless, we’ll definitely experience inflation. Oil price increases, transportation increases, electricity increases, all other stuff in the market are affected as well.

I am from Nigeria, and in my state, there is already an increase in the price of a litre of petrol. Petrol now sells at N1200 in stations from its former price at around N900 to N1000.
Some Nigerians are wondering how the crisis in Iran is affecting the local cost of petrol, but IMO, since the daily traffic through Strait of Hormuz is being affected and it is a global market,  if the prices elsewhere is going up, there is a chance for it to affect our market as well. Am I wrong?

[terrific]

Some Nigerians are wondering how the crisis in Iran is affecting the local cost of petrol, but IMO, since the daily traffic through Strait of Hormuz is being affected and it is a global market,  if the prices elsewhere is going up, there is a chance for it to affect our market as well. Am I wrong?

That's the same to other countries that are importing fuel from the gulf region.
The closing of Strait of Hormuz are affecting countries that are importing from several countries there. If they can deliver that through land, it will be costly and more expective.
That's why the Strait is strategically in favor of Iran or any country that decides to close it for their own reasons like for this one, being in war against USA and Israel.

[Italian Panic]

In Europe, the worst situation is seen in petrol and his derivates prices and a general rise of material's price, which is obviously speculation and not a real need to raise prices.
Consumer associations which should defend the interests of those who purchase goods obviously do not seem interested and so everything falls on those who have to buy.
I wonder what they are waiting for to go back to buying raw materials from Russia, not caring about chasing after the leader of the moment.

[Oluwa-btc]

Some gasoline stations already put up “out of stock” signage. It could be that they’re just hoarding it till the price increases even more. But regardless, we’ll definitely experience inflation. Oil price increases, transportation increases, electricity increases, all other stuff in the market are affected as well.

Obviously, our country isn’t prepared for this one. And I’m worried of how big this problem will be in the next coming days.

These are issues that should be looked out for, a country with a well defined refinery and oil reserve has the necessity to perform better but it seems it's the other way round where it's meant to be beneficial it's affecting a whole lot including the system. During war it's an opportunity for most countries to invest in their oil reserve cause it serves various purposes so I'm well convinced that my country need to be prepared for this.

[Strongkored]

There's been panic in my country, especially in big cities, with long lines at gas stations following news that fuel stocks were only enough for 20 days a few days ago. Today, it seems to be easing, and there will likely be long queues again in anticipation of a price increase by the government, even though our finance minister has said he has no plans to raise fuel prices.
I use public transportation, which is subsidized by the government by a small percentage, so it's still relatively safe unless the government reduces subsidies. What's certain is that the price of basic necessities will soon rise in the next few days due to the war and the upcoming religious celebrations.

[Marvelockg]

Actually we have to take a lesson from this war: governments always have to reserve fuels for the country as much as possible. So in such unexpected situations, the government could control the fuel price, and it will be available for the citizens.

Reserved fuel can only sustain an economy for a limited number of period and eventually they will still get hit by the reality that if you are an oil producing nation, one of the key things you ought to ensure happens is that you are able to produce the oil and at the same time refine it yourself.

The panic seams to be an expected thing because there is still an high level of uncertainty as to when the war will end and wether or not the situation will lead to scarcity of fuel and other things which is likely to happen if things worsen off with time. but then, this is still the issue that comes with international war because while you might not be affected directly, everyone mostly suffers from it in one way or the other.

[Fiatless]

The situation is becoming worse in my country. Though we aren't affected through direct attack, it's all about due to fuel reserves. I have heard in the news that even murder happens due to fuel refills. There was an argument at the gasoline station with the staff and a customer regarding limitations of fuel. Because our government limited the refill for fuels, even if you have money, you can't fill the tank. Because the government wants to make sure it sustains longer with fuel reserves. There is not much reserved for fuel, which is less than a month.

If the war continues longer, then most probably everything will be hiked here. We are already encountering a little bit of an increase for a few goods that are needed for daily life. I am afraid if the war doesn't stop soon, then many countries will have to suffer. Actually we have to take a lesson from this war: governments always have to reserve fuels for the country as much as possible. So in such unexpected situations, the government could control the fuel price, and it will be available for the citizens.

Trump has been troubling the world since he became president. Most countries have not recovered from the tariff spat, and now the crude oil market has been destabilized. Meanwhile, the US might not suffer these consequences because they have enough crude reserves and is also in total control of Venezuela's oil.

The end of this war is not insight. Trump has said it will end in weeks but that might not be the case. Iran is still attacking key oil producers, and crude has passed $100 a barrel.

[iv4n]

Obviously, our country isn’t prepared for this one. And I’m worried of how big this problem will be in the next coming days.

Many countries are not prepared, and how can they be? I guess there is no country that can be perfectly prepared for every possible situation, or better to say, chain reaction.

Crazy politicians are creating wars, spreading fear & misunderstanding from early morning... armies of so-called experts are helping them by creating total confusion. We can even say they are adding more fuel to an already dangerous situation.

In my country it's the same... One day, politicians are crying about how everything is hard, the next day, they say everything will be great because they are smart and they will handle the situation. All we can do is to be mentally prepared for the possible hard days... when they come, to analyze the situation and make the best possible move.

[Stepstowealth]

Some Nigerians are wondering how the crisis in Iran is affecting the local cost of petrol, but IMO, since the daily traffic through Strait of Hormuz is being affected and it is a global market,  if the prices elsewhere is going up, there is a chance for it to affect our market as well. Am I wrong?

That's the same to other countries that are importing fuel from the gulf region.
The closing of Strait of Hormuz are affecting countries that are importing from several countries there. If they can deliver that through land, it will be costly and more expective.
That's why the Strait is strategically in favor of Iran or any country that decides to close it for their own reasons like for this one, being in war against USA and Israel.

Well countries like Norway that have very little dependence on oil for their economy will not be so affected by the traffic that has been hindered on the Strait of Hormuz. I read about Norway and I like the way they have placed their economy, they export large amount of oil and gas, but do not use so much domestically. Their major electricity source is even through the renewable means, hydropower plant.
If many countries in the world look more towards renewable power, crisis in countries that can affect the flow of oil and gas will not be affecting them. I wish my country is as smart as Norway.

[puloweh555]

While posting, I am watching news about the price hike here in our country, and it's turning from bad to worse, many gas stations are closing, and there's a long line of motorists.

Some bus and jeepney drivers minimize plying their route, and some have stopped and just do other jobs, like doing mechanics.
The 60-day reserves are really not enough, as there is no news of a ceasefire.
Our government is not ready; they do not know how to face the situation when the reserves run out.

I happen to be from Indonesia, and the war in the Middle East has already begun to be felt, even causing panic among some people due to fuel shortages. In some areas, many people are panicking at gas stations, fearing that fuel will be scarce or expensive in the near future. This all happened after Indonesia announced its oil reserves were only sufficient for the next 20 days.

War always has a significant impact on the global economy, not just on the countries at war especially since Iran controls the Strait of Hormuz, which is a major route for global oil traffic. I've also read news reports that Trump plans a war lasting only 4-5 days, after which Iran will surrender. But the reality is the opposite: Iran is prepared for a long war. If the war lasts longer than a month, not only European countries will face fuel shortages, but the entire world will face fuel shortages especially since Iran has firmly stated that it is fully prepared for a long term war.

[terrific]

Some Nigerians are wondering how the crisis in Iran is affecting the local cost of petrol, but IMO, since the daily traffic through Strait of Hormuz is being affected and it is a global market,  if the prices elsewhere is going up, there is a chance for it to affect our market as well. Am I wrong?

That's the same to other countries that are importing fuel from the gulf region.
The closing of Strait of Hormuz are affecting countries that are importing from several countries there. If they can deliver that through land, it will be costly and more expective.
That's why the Strait is strategically in favor of Iran or any country that decides to close it for their own reasons like for this one, being in war against USA and Israel.

Well countries like Norway that have very little dependence on oil for their economy will not be so affected by the traffic that has been hindered on the Strait of Hormuz. I read about Norway and I like the way they have placed their economy, they export large amount of oil and gas, but do not use so much domestically. Their major electricity source is even through the renewable means, hydropower plant.
If many countries in the world look more towards renewable power, crisis in countries that can affect the flow of oil and gas will not be affecting them. I wish my country is as smart as Norway.

That's good for countries like them.
Their lives are going to be normal and the same without expecting so much inflation. Although the cost of living there is high.
It won't be sacrificed by the government because of what's happening right now. The countries who have been reliant on the imported oil in that area should start to do the same of using renewable energy.
If there's a political will on the leaders, they'll think of solutions like that when the global events are not in favor of the affected countries.

[Peanutswar]

Now its not good because we knew that every time the price of the oil getting higher even the other prices of the goods and services tons of things do also increase rapidly because of the use of the oil as per observation tons of people yesterday doing a hoard of the oil and people now do full tanks for their vehicles if ever there is a massive increases also recently there is news arise in social media some of the gas stations owners made a strategy to limit the number of oil they can buy and immediately sold their stock so if ever price rises again it doubled their profit hopefully this ward end because its cause such chaos right now.

[Finestream]

Everything happens in an abrupt, so no country I guess has prepared for this. And if US will continue to hit  Iran, I think bigger crisis will definitely arise in the next days and months. This is not just about oil price hike, because everything suddenly turns out expensive. And I can't imagine those who are living paycheck to paycheck, these people will eventually suffer the most.

And its worst thinking that this war has become unstoppable, especially if US will come to fuel the war just to put an end, or probably lengthen the war happening, and its sad because a lot of countries will be put into compromised.

[Nothingtodo]

The horror of this war will have an impact on the whole world, but its impact will be felt in my country as well, because my country can probably last for 14 days with the amount of oil it has in its reserves so far. However, my country Bangladesh has had five large tanker ships pass through the Strait of Hormuz two days ago. Maybe Bangladesh will be able to survive for a few more days with this oil. However, it will have a huge impact not only on the energy sector of Bangladesh but also on other sectors.