The ongoing conflict between the US, Israel, and Iran has significantly impacted the global economy, with oil prices soaring by over 40% since the start of the war. The closure of the Strait of Hormuz has reduced oil and gas supplies, leading to increased prices and concerns of a global recession. As a result, many countries are experiencing rising petrol prices, with some implementing measures to conserve fuel, such as reduced workweeks and restricted vehicle usage. Economists warn that a prolonged conflict could lead to stagflation, with rising inflation and unemployment, and potentially even a debt crisis in debt-ridden countries. The global airline industry is also feeling the effects, with increased fuel costs leading to higher ticket prices and longer flight routes to avoid the Gulf region.