How Asian countries are responding to the fuel crisis and what measures are being taken

The global fuel crisis is prompting countries in Asia to re-evaluate work-from-home measures and economic incentives implemented during the COVID-19 pandemic. The war in the Middle East has led to a fuel shortage, severely affecting the economies in the region, which largely depend on fuel imports. Although no country has yet imposed further work-from-home measures, South Korea, the Philippines, Pakistan, and other states are discussing their implementation.

The IEA has recommended working from home as a solution to reduce pressure on oil prices. Additionally, governments in Asia have begun to take economic stimulus measures to assist households affected by rising costs. Central banks, however, are facing a dilemma, considering that interest rate hikes could impact economic growth.