S&P 5007,651.54▼0.2% Nasdaq26,861.06▲0.2% Dow50,906.05▼0.9% Russell 2K2,796.86▼0.4% 10-Yr5.29%+4bp VIX16.34+0.30 WTI$90.46▲1.2% Gold$4,189.00▲0.2% EUR/USD1.133▼0.3% BTC$86,460▲1.9% Nikkei65,481▼0.6%
At close · Wed, Sep 30, 2026
Daily Market Updates.

Commodities

Home›Commodities›Energy›UN warns global fuel subsidies could top $1 trillion t…

UN warns global fuel subsidies could top $1 trillion this year

A UNDP report estimates that, at current energy prices, fossil fuel subsidies could exceed $1 trillion as governments face tighter fiscal space to maintain price caps and tax cuts.

Reported · Written up by our desk · Energy

Fuel subsidies tied to the current oil price shock could exceed $1 trillion this year, the United Nations warned, according to a UN statement cited by OilPrice.

The UN said many governments are running out of fiscal resources to continue supporting consumers and industry through measures such as fossil fuel subsidies, fuel tax reductions, or price caps.

OilPrice cited estimates from a United Nations Development Programme, saying that at current energy prices global fossil fuel subsidies could “easily surpass” $1 trillion this year.

← Newer storyMalaysia warns South China Sea tensions could spill into Sabah

More like this

CommoditiesWTI falls nearly 4% as Europe weighs emergency oil stock release
CommoditiesUK diesel price hits record high of £2 a litre amid Iran-war oil shock
CommoditiesChina restarts curbs on refined fuel exports
CommoditiesUK diesel average tops £2 a litre as fuel costs keep rising
CommoditiesJERA warns Qatar LNG disruptions could push winter prices higher

Sources

OilPriceUN Says Global Fuel Subsidies Could Top $1 Trillion

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.