diff --git a/.pre-commit-config.yaml b/.pre-commit-config.yaml
index 6258c8e4..c2b32957 100644
--- a/.pre-commit-config.yaml
+++ b/.pre-commit-config.yaml
@@ -1,7 +1,7 @@
 default_stages: [commit]
 repos:
   - repo: https://github.com/astral-sh/ruff-pre-commit
-    rev: v0.7.4
+    rev: v0.8.0
     hooks:
       - id: ruff
         args: [--fix]
diff --git a/openfeature/api.py b/openfeature/api.py
index c7d29c48..4460b695 100644
--- a/openfeature/api.py
+++ b/openfeature/api.py
@@ -18,21 +18,21 @@
 )
 
 __all__ = [
-    "get_client",
-    "set_provider",
+    "add_handler",
+    "add_hooks",
+    "clear_hooks",
     "clear_providers",
-    "get_provider_metadata",
+    "get_client",
     "get_evaluation_context",
-    "set_evaluation_context",
-    "set_transaction_context_propagator",
+    "get_hooks",
+    "get_provider_metadata",
     "get_transaction_context",
+    "remove_handler",
+    "set_evaluation_context",
+    "set_provider",
     "set_transaction_context",
-    "add_hooks",
-    "clear_hooks",
-    "get_hooks",
+    "set_transaction_context_propagator",
     "shutdown",
-    "add_handler",
-    "remove_handler",
 ]
 
 _evaluation_context = EvaluationContext()
diff --git a/openfeature/event.py b/openfeature/event.py
index e41a3704..23210771 100644
--- a/openfeature/event.py
+++ b/openfeature/event.py
@@ -6,7 +6,7 @@
 
 from openfeature.exception import ErrorCode
 
-__all__ = ["ProviderEvent", "ProviderEventDetails", "EventDetails", "EventHandler"]
+__all__ = ["EventDetails", "EventHandler", "ProviderEvent", "ProviderEventDetails"]
 
 
 class ProviderEvent(Enum):
diff --git a/openfeature/exception.py b/openfeature/exception.py
index 3ae54a56..0576ec17 100644
--- a/openfeature/exception.py
+++ b/openfeature/exception.py
@@ -5,16 +5,16 @@
 from enum import Enum
 
 __all__ = [
-    "OpenFeatureError",
-    "ProviderNotReadyError",
-    "ProviderFatalError",
+    "ErrorCode",
     "FlagNotFoundError",
     "GeneralError",
+    "InvalidContextError",
+    "OpenFeatureError",
     "ParseError",
-    "TypeMismatchError",
+    "ProviderFatalError",
+    "ProviderNotReadyError",
     "TargetingKeyMissingError",
-    "InvalidContextError",
-    "ErrorCode",
+    "TypeMismatchError",
 ]
 
 
diff --git a/openfeature/flag_evaluation.py b/openfeature/flag_evaluation.py
index db9cea1b..1f83fd1b 100644
--- a/openfeature/flag_evaluation.py
+++ b/openfeature/flag_evaluation.py
@@ -12,12 +12,12 @@
 
 
 __all__ = [
-    "FlagType",
-    "Reason",
-    "FlagMetadata",
     "FlagEvaluationDetails",
     "FlagEvaluationOptions",
+    "FlagMetadata",
     "FlagResolutionDetails",
+    "FlagType",
+    "Reason",
 ]
 
 
diff --git a/openfeature/hook/__init__.py b/openfeature/hook/__init__.py
index e98301fa..77190dc0 100644
--- a/openfeature/hook/__init__.py
+++ b/openfeature/hook/__init__.py
@@ -12,7 +12,7 @@
     from openfeature.client import ClientMetadata
     from openfeature.provider.metadata import Metadata
 
-__all__ = ["HookType", "HookContext", "HookHints", "Hook"]
+__all__ = ["Hook", "HookContext", "HookHints", "HookType"]
 
 
 class HookType(Enum):
diff --git a/openfeature/provider/__init__.py b/openfeature/provider/__init__.py
index 8927551e..b390f928 100644
--- a/openfeature/provider/__init__.py
+++ b/openfeature/provider/__init__.py
@@ -11,7 +11,7 @@
 
 from .metadata import Metadata
 
-__all__ = ["AbstractProvider", "ProviderStatus", "FeatureProvider", "Metadata"]
+__all__ = ["AbstractProvider", "FeatureProvider", "Metadata", "ProviderStatus"]
 
 
 class ProviderStatus(Enum):
diff --git a/openfeature/transaction_context/__init__.py b/openfeature/transaction_context/__init__.py
index e97fd36f..ca711cbf 100644
--- a/openfeature/transaction_context/__init__.py
+++ b/openfeature/transaction_context/__init__.py
@@ -6,6 +6,6 @@
 )
 
 __all__ = [
-    "TransactionContextPropagator",
     "ContextVarsTransactionContextPropagator",
+    "TransactionContextPropagator",
 ]
diff --git a/openfeature/transaction_context/context_var_transaction_context_propagator.py b/openfeature/transaction_context/context_var_transaction_context_propagator.py
index 1abc04fa..5ffdae00 100644
--- a/openfeature/transaction_context/context_var_transaction_context_propagator.py
+++ b/openfeature/transaction_context/context_var_transaction_context_propagator.py
@@ -1,4 +1,5 @@
 from contextvars import ContextVar
+from typing import Optional
 
 from openfeature.evaluation_context import EvaluationContext
 from openfeature.transaction_context.transaction_context_propagator import (
@@ -7,12 +8,17 @@
 
 
 class ContextVarsTransactionContextPropagator(TransactionContextPropagator):
-    _transaction_context_var: ContextVar[EvaluationContext] = ContextVar(
-        "transaction_context", default=EvaluationContext()
+    _transaction_context_var: ContextVar[Optional[EvaluationContext]] = ContextVar(
+        "transaction_context", default=None
     )
 
     def get_transaction_context(self) -> EvaluationContext:
-        return self._transaction_context_var.get()
+        context = self._transaction_context_var.get()
+        if context is None:
+            context = EvaluationContext()
+            self._transaction_context_var.set(context)
+
+        return context
 
     def set_transaction_context(self, transaction_context: EvaluationContext) -> None:
         self._transaction_context_var.set(transaction_context)