Fuel subsidies amid the oil price shock could exceed $1 trillion this year, the United Nations said, warning that many governments are running out of fiscal resources to sustain subsidies, fuel tax reductions, or price caps. Estimates in a United Nations Development Programme (UNDP) report suggest that at current energy prices, global fossil fuel subsidies could easily surpass $1 trillion this year. “Countries are reaching a breaking point in their efforts to shield vulnerable populations from energy and food price hikes,”…