From School Closures To Work-From-Home: Asian Countries Take Emergency Steps Amid Oil Crisis
From School Closures To Work-From-Home: Asian Countries Take Emergency Steps Amid Oil Crisis
Fuel shortages triggered by the West Asia conflict force governments across Asia to impose restrictions, remote work and price controls.
The ongoing conflict in West Asia involving Iran, the United States and Israel is beginning to impact economies across Asia, forcing several countries to introduce emergency measures to deal with fuel shortages and rising energy prices.
Oil supply disruptions caused by the conflict have affected shipments through the Strait of Hormuz, a key global energy route that handles a significant share of the world’s oil and gas trade. As tensions escalated, global oil prices became highly volatile, with Brent crude briefly touching around $119 per barrel before falling back near $90.
To manage the crisis, several Asian governments have introduced strict measures to conserve fuel and stabilise prices.
In Pakistan, authorities ordered schools to remain closed for two weeks and directed government offices to shift partly to work-from-home arrangements. Prime Minister Shehbaz Sharif also announced cuts in fuel allowances for government departments by 50 percent for two months, along with a reduction in the use of official vehicles.
Thailand and Vietnam have encouraged public employees to work from home and take up other energy-saving measures as the Middle East war disrupted oil supplies and sent fuel prices swinging.
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Bangladesh has introduced limits on daily fuel sales after panic buying and hoarding raised concerns about supply shortages. The government also shut down universities temporarily in order to reduce electricity consumption and transportation demand.
In the Philippines, several government offices have moved to a four-day work week, while essential services such as hospitals and fire stations remain exempt from the new schedule. Officials say the move is intended to reduce fuel consumption and manage the pressure on energy supplies.
Vietnam has urged companies to encourage employees to work from home to save fuel. The country is also considering temporarily removing taxes on fuel imports to ease the burden of rising prices.
Meanwhile, South Korea has capped gasoline and diesel prices and instructed authorities to take strict action against hoarding, price manipulation and collusion among fuel suppliers.
Other countries have also taken steps to reduce the impact of rising fuel prices. Taiwan has increased fuel prices but cut commodity taxes to soften the impact on consumers, while Thailand has announced a temporary cap on diesel prices for two weeks.
Many Asian economies depend heavily on oil imports from West Asia, making them particularly vulnerable to disruptions caused by geopolitical conflicts. Experts warn that if the conflict continues or intensifies, energy shortages and rising prices could further affect economic activity and inflation across the region.
