The Iran conflict has resulted in rising oil-based consumables and gasoline prices, but the regional winners in this conflict are Mexico and other Latin American export markets. The top five performing currencies in emerging markets are the Chilean Peso, the Brazilian Real, the Colombian Peso and the South African Rand. Despite these increases, Mexico's president, Claudia Sheinbaum, announced plans to use the Special Tax on Production and Services (IEPS) to mitigate the cost of gasoline to Mexican consumers. The longer the conflict lasts, the more impact it will have on American consumers. Mexico's largest oil export market is the United States, avoiding logistical issues posed by the conflict. However, the conflict could lead to economic threats for Mexico if it continues longer than the Trump administration hopes it will.