The article does not specifically mention Portugal. Instead, it discusses the global economic impact of rising oil prices, particularly at $100 per barrel, due to geopolitical conflicts like the Iran war. It highlights fiscal challenges faced by countries in shielding households from higher energy costs, with potential costs up to 3% of GDP for vulnerable nations. The piece also covers policy responses, such as South Korea’s fuel price cap, and emphasizes the risks of social unrest and economic slowdown resulting from sustained high oil prices.