Summary
Some countries are moving to four-day work weeks and remote work to cope with rising oil prices caused by the Iran conflict. The closure of the Strait of Hormuz has led to higher oil prices, prompting various governments to take actions to save fuel.
Key Facts
- The Iran conflict has led to higher oil prices due to the closure of the Strait of Hormuz, a major passageway for global oil supply.
- Oil prices have risen above $100 per barrel since the conflict began on February 28.
- Pakistan has asked half of its government workers to work from home on a rotating schedule.
- The Philippines declared a national emergency due to high oil prices and shifted to a four-day work week to save fuel.
- Sri Lanka moved to a four-day workweek for most public institutions to reduce petrol use and introduced a ration system for petrol.
- Egypt encouraged non-essential workers to work from home one day a week and implemented early closing times for shops and restaurants.
- Thailand asked civil servants to work from home and reduce energy use by wearing lighter clothing and using stairs.
- Vietnam encouraged working from home and temporarily waived an environmental tax on fuel.
