Summary
Governments worldwide are starting to ration fuel due to rising gas prices caused by a conflict in the Middle East and issues in the Strait of Hormuz, a vital oil route. The International Energy Agency says the current supply disruption is the largest in the history of the global oil market.
Key Facts
- The Middle East conflict and problems in the Strait of Hormuz are causing fuel prices to rise.
- The Strait of Hormuz is crucial for transporting about 20% of the world’s oil.
- Sri Lanka is using a QR-code system to limit weekly fuel purchases.
- Myanmar limits fuel purchases based on an odd-even vehicle registration system.
- Cambodia effectively reduced fuel availability by closing about one-third of petrol stations.
- Slovenia is the first EU country to officially ration fuel during this crisis, capping amounts for consumers.
- Bangladesh and Indonesia have also set fuel restrictions to handle limited supplies.
- Other countries are taking measures like subsidies or energy-saving tactics, but not all are imposing purchase limits.
