International Affairs
Global impacts and solutions
The war-torn situation in West Asia (Gulf countries) has disrupted global fuel supplies. As a result, more than 122 countries have implemented wartime fuel conservation regulations. Fuel prices have skyrocketed worldwide, leading to economic crises and severe power cuts in many countries. There is currently a severe fuel shortage and a major energy crisis at the global level. The International Energy Agency (IEA) has called it the largest fuel crisis in history.
Food crisis: More than 30% of global urea (fertilizer) exports pass through the Strait of Hormuz. Fuel shortages and fertilizer supply disruptions have raised fears of food insecurity worldwide, raising the cost of food production. Moving to alternative energy: According to the International Energy Agency (IEA), many countries are temporarily switching from gas-based power generation to coal to deal with this crisis, while accelerating the use of renewable energy such as solar and wind power.
In Thailand, the use of elevators has been banned. It has been appealed to wear half shirts or T-shirts while going to the office.
In Bangladesh, four-wheelers are allowed 2 liters of fuel per day and four-wheelers are allowed 10 liters of fuel per day.
In the Philippines, it has been urged to keep AC temperatures above 24 degrees Celsius.It has been asked to turn off lights and computers during meal times.
In Vietnam, there is an emphasis on using bicycles for short distances, and the possibility of legal action has been predicted for the use of two-wheelers or four-wheelers.
Vietnam, Laos and Cambodia: These countries are among the most vulnerable in Southeast Asia. They are facing acute shortages of petroleum products due to their dependence on fuel imports.
Myanmar: The country is facing a severe fuel shortage, with long queues at petrol pumps. The use of private vehicles has been restricted to alternate days (odd-even).
Japan has released 80 million barrels of oil from its strategic reserves into the market.
Due to the already-existing economic crisis in Sri Lanka and global inflation, petrol and diesel prices have increased by 40% to 50%, leading to severe fuel rationing.