The Centre for Research on Energy and Clean Air reports that crude oil accounted for the largest share of this burden, totaling $164.1 billion in unexpected costs. Diesel and gasoil added another $73.8 billion, while jet fuel and gasoline prices contributed significantly to the aggregate. The European Union remains the most exposed region, absorbing $78 billion in extra costs due to its reliance on international markets following sanctions on Russian energy.

China and India also faced severe fiscal pressure, paying $35 billion and $22 billion respectively. China mitigated further damage by drawing down its massive oil stockpiles, estimated between 1 billion and 1.4 billion barrels. India, however, remained acutely vulnerable due to its heavy dependence on Middle Eastern supply lines, which were compromised by the closure of the Strait of Hormuz.

Price volatility shows few signs of abating. Asian LNG prices have averaged 75% above pre-war forecasts, with European costs running 60% higher. The International Energy Agency notes that hostilities have disabled approximately 9.6 million barrels of daily refining capacity in the Middle East. Combined with existing constraints, this supply squeeze ensures that elevated fuel costs will persist long after the current conflict subsides. While wind and solar power provided a minor buffer, saving importers $36 billion, they remain insufficient to offset the broader market instability.