Displaying items by tag: effects of oil shortage

The effective closure of the Strait of Hormuz by Iran has disrupted global energy supplies, sending oil prices higher and straining economies, especially across Asia. With nearly 90% of shipments through the strait destined for the region, countries such as the Philippines, Thailand, Sri Lanka, Myanmar, and India are facing fuel shortages and rising costs. Governments have introduced emergency measures, including reduced working hours, remote work policies, and fuel rationing. The crisis has deeply affected everyday livelihoods, with drivers, farmers, factory workers, and small businesses struggling to cope. Industries have slowed or shut down, while long queues for fuel and rising living costs have increased uncertainty. Though the conflict is geographically distant, its economic impact is immediate, exposing the vulnerability of global energy systems and the fragile balance many communities depend on.

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