Imagine, you're rushing to work in a foreign country, but the boss says stay home to save gas. That's the new normal across much of Asia right now, all because of the war in the Middle East. The trouble kicked off at the end of February when the issue between the US, Israel, and Iran shut down the Strait of Hormuz. That narrow waterway carries nearly all the oil and gas Asia relies on.
With tankers stuck or rerouted, prices surged fast. Oil jumped almost 45 percent in weeks. Countries that import most of their energy from the Gulf felt it first and hardest. Governments jumped in with quick fixes. The Philippines and Pakistan switched to four-day workweeks. Thailand told office workers to log in from home and crank up the air conditioning less. In Sri Lanka, drivers line up for limited fuel each week. Bangladesh closed universities. Myanmar went old-school, letting cars on the road only every other day based on license plates. Families in Nepal are now rationing cooking gas, and restaurants in India are dropping slow-cooked dishes to save power.
It's not just about filling tanks. Groceries cost more because fertilizer shipments slowed, hitting rice fields etc. You see the worry in people's faces at petrol stations and markets from Jakarta to New Delhi.
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