Skyrocketing global fuel prices threaten livelihoods and social stability

NEW YORK -"NO ES SUFICIENTE" - It's not enough. That was the message protest leaders in Ecuador delivered to the country's president this past week after he said he would lower the price of both regular petrol and diesel by 10 US cents in response to riotous demonstrations over soaring fuel and food prices.

In Nigeria, stylists use the light of their mobile phones to cut hair because they can't find affordable fuel for the gasoline-powered generator. In Britain, it costs US$125 to fill the tank of an average family-size car. Hungary is prohibiting motorists from buying more than 50 litres of petrol a day at most service stations.

Across the continent, countries are preparing blueprints for emergency rationing that involve caps on sales, reduced speed limits and lowered thermostats. People walk near a police station which was burnt down by demonstrators, during a protest against the government of President Guillermo Lasso, in northern Quito, Ecuador.Dione Dayola, 49, leads a consortium of about 100 drivers who cruise metropolitan Manila, Philippines, picking up passengers in the minibuses known as jeepneys. Now, only 32 of those drivers are on the road. The rest have left to search for other jobs or have turned to begging.

Persistently expensive energy is stirring up political discontent not only in places where the war in Ukraine feels remote or irrelevant but also in countries that are leading the opposition to Russia's invasion. In poorer countries, the threat is more fraught as governments are torn between offering additional public assistance, which requires taking on burdensome debt, and facing serious unrest.

Mexico's president, Andrés Manuel López Obrador, is using money the country makes from the crude oil it produces to help subsidise domestic petrol prices. But analysts warn that the revenue the government earns from oil can't make up for the money it is losing by temporarily scrapping taxes on petrol and by providing an additional subsidy to companies that operate petrol stations.

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