Global Energy Crisis: Why Singapore is Relatively Unscathed-Part 1
A world in a fuel crisis, a city that keeps humming Since the US–Israel war with Iran began on 28 February 2026, tanker traffic through the Strait of Hormuz has been choked, Qatar's giant Ras Laffan gas complex has been knocked offline, and Houthi forces have attacked Saudi oil facilities and Red Sea shipping. The head of the International Energy Agency has called it the greatest energy security crisis the world has faced. Singapore has felt it in the wallet, but not in the queue. Petrol is about 25% dearer than before the war, electricity tariffs jumped 17% in the third quarter, and inflation has climbed to a two-year high of 2.3%. Yet there has been no rationing, no dry petrol stations, and no four-day work weeks. Elsewhere the picture is harsher. Sri Lanka brought back QR-code fuel quotas. The Philippines declared a national energy emergency. Indonesia capped fuel purchases at 50 litres a day. Europe's energy inflation reached 18.8% in September. This post asks why. The sh...