Soaring gasoline prices are fanning inflation and causing a headache for governments and central banks worldwide. In countries with elections coming up, they’re an extra headwind for the incumbents.
While the U.S. mid-terms in November are the prime example of fuel prices feeding into the political sphere, upcoming votes in Asia may also be affected. Voting is already underway in Indian state elections and South Korea holds a presidential poll in early March. There’s also an Australian general election and a contest for the upper house in Japan in the next few months.