"Southeast Asian nations have already imposed a mix of fuel-saving measures and subsidies, joining a frantic global push to find alternative suppliers and trade routes. Even countries like Malaysia and Brunei, oil and gas producers and exporters, remain vulnerable to the broader inflationary and supply-chain shock spreading through the region."
"On March 24, the Philippines declared a state of national energy emergency that will remain in force for a year, warning of an 'imminent danger' to the country's energy supply. Manila had already shifted government offices to a four-day workweek and ordered agencies to curb energy use."
"Vietnam has already tapped into its fuel price stabilization fund and told airlines to prepare for cuts, with importers warning that jet fuel supply could be guaranteed only through March. Indonesia has vowed to absorb part of the shock through the state budget and bigger subsidies."
Weeks of conflict involving the US, Israel, and Iran have severely impacted oil and gas supplies through the Strait of Hormuz, prompting Southeast Asian governments to implement fuel-saving measures and seek alternative suppliers. The Philippines declared a national energy emergency, while Vietnam and Indonesia are also taking steps to manage the crisis. Malaysia and Brunei, despite being oil producers, are not immune to the inflationary pressures. China is positioning itself to assist Southeast Asian nations in addressing energy security challenges.
Read at www.dw.com
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