The blockage of the Strait of Hormuz, through which almost 20 percent of global oil supply passes, has triggered a severe fuel crisis across South Asia. Pakistan has announced sweeping austerity measures including school closures for two weeks, a four-day work week for government offices, and 50 percent cuts in allowances for government employees, following a 20 percent hike in petrol and diesel prices. Bangladesh, which imports 95 percent of its energy, has imposed daily limits on fuel purchases after panic buying and shut down four of its five state-run fertiliser factories to divert gas to power plants. Sri Lanka has closed schools and universities and enforced power cuts, while Vietnam has mandated work from home and imposed fuel queue limits. Over 10 tankers have faced attacks passing through the strait, leading shipping companies to alter transit routes, causing a global supply shock with oil prices up about one third.
#StraitOfHormuz #OilCrisis #FuelCrisis #itwebvideos #GlobalOilSupply #PakistanCrisis #BangladeshCrisis #SouthAsia #OilPrices #Energycrisis #ShahbazSharif #Pakistan #Bangladesh #SriLanka #Vietnam #AusterityMeasures #FuelShortage #WestAsiaConflict #HormuzBlockade #GlobalSupplyShock #ShippingDisruption #TankerAttacks #LNGCrisis #EnergyImports #PetrolPrices #DieselPrices
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