The ongoing war between Iran and the US has triggered a global energy crisis, with several countries in Asia being severely affected. The closure of the Strait of Hormuz, a key waterway that hosts a fifth of the world's energy shipping, has led to a shortage of energy supplies and surging prices.
Several countries have been hit hard by the crisis, including the Philippines, Pakistan, Vietnam, Sri Lanka, and Bangladesh. The Philippines has declared a state of national emergency and has asked officials to work four days a week to save fuel. The government has also put a cap on air conditioning temperature at 24°C.
Pakistan has emerged as a mediator between the US and Iran, but it is also facing the brunt of the conflict, with prices of jet fuels and kerosene surging sharply. Vietnam has urged people to work from home to save fuel, while Sri Lanka has announced that street lights, neon signs, and billboard lights will be switched off to reduce energy consumption.
Bangladesh has closed its universities and enforced fuel rationing in response to the crisis. The annual fossil fuel import bill of Bangladesh is projected to soar by $4.8 billion due to the ongoing conflict in West Asia.
