The United States-Israeli war with Iran has increased fuel prices in developing economies in the Global South, particularly in Pakistan, where the country imports about 80 percent of its energy from the Gulf. This has led to a surge in energy costs, driven by the closure of the Strait of Hormuz and attacks on oil and gas facilities across the Gulf, causing policymakers to scramble for measures to conserve fuel. Pakistan has closed schools, introduced a four-day work week for government offices, and reduced fuel allowances for official business. Egypt, one of the most indebted countries in the Middle East, announced price hikes of between 15 and 22 percent for petrol, diesel and cooking gas on March 10. There are fears that petroleum prices will surge if the war drags on. The impact of the conflict on developing countries' currencies has exacerbated further geopolitical uncertainty.