Yesterday, Papua New Guinea's Prime Minister James Marape announced his Government is "working on stand-by fuel supply arrangements" and exploring relief measures, if fuel prices increase.
Mr Marape is one of many leaders around the world who have expressed concern about the prospects of a severe energy crisis caused by a blockade of the Straight of Hormuz by Iran.
So how vulnerable are Pacific Island nations to higher oil prices and fuel shortages?
Head of Energy Research at MST Marquee in Sydney and fuel markets expert Saul Kavonic says that the Pacific could see government subsidies and rationing as fuel shortages continue but that the biggest concern is that the hit to the fertiliser market could lead global food shortages should the Strait of Hormuz remain closed.
"It's premature to say that this is the impact we will see," Mr Kavonic said.
"But it's certainly probably the highest risk we've ever seen to our fertiliser market in decades, or even in generations."
Image Details
Cars queued up for fuel at a Mobil petrol station in Port Moresby, PNG, on February 20, 2024.