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CX Daily: Energy Shockwaves From U.S.-Iran War Hit Global Economy

Published: Apr. 8, 2026  9:00 a.m.  GMT+8
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Cover Story: Energy Shockwaves From U.S.-Iran War Hit Global Economy

Raffy, who works in Manila, usually drives the three-hour journey home for the Easter holidays. Shortly after midnight on April 1, however, he found himself stranded at a packed bus terminal, as soaring fuel costs upended his travel plans. Diesel prices in the Philippines have more than doubled since the U.S.-Iran conflict erupted in late February, turning routine travel into an increasingly expensive luxury.

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