Thailand And Vietnam Shut Down Schools, Limit Travel As Oil Crisis Worsens In Southeast Asia

Recently, businesses across Southeast Asia have been facing serious energy shortages as the Strait of Hormuz remains shut amid the ongoing US-Israel-Iran conflict. Read on to learn more about the conditions in Southeast Asia.

Southeast Asian Nations Shuts Down Schools & Offices

As per a report by Al Jazeera, Southeast Asia is facing a shortage of oil due to the ongoing conflict.As a result, fuel conditions are getting worse each passing day. In the Philippines, government offices have moved to a four-day work week; in Thailand and Vietnam, officials have asked people to work from home and limit travel, and Myanmar’s government has imposed hybrid driving days.

Thailand’s Prime Minister, Anutin Charnvirakul, has announced a temporary price cap for diesel, while Vietnam has started tapping into its fuel price stabilisation fund. If the strait remains closed, the region may face even more serious concerns.

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Despite having a large amount of fossil fuels, Southeast Asia heavily relies on imported gas and oil from Iran. As reported by the news portal, about 84% of the crude oil and 83% of LNG that passed through the Strait in 2024 were for Asia.

Other states like China, Japan, South Korea and India are given about 70% of oil shipments, with 15% remaining for the rest of Asia. The Philippines, Thailand, Brunei and Malaysia are among the top countries that are most exposed to crude oil disruptions.

What Does The Ongoing Situation Look Like In Southeast Asia?

As reported by Fortune, Thailand has about 95 days of energy reserves left. To control the situation, the officials have ordered work-from-home for the duration and have requested civil servants to take the stairs rather than the elevators during the crisis. It has also increased the air-conditioning temperature to 27°C and will tell the government employees to wear short-sleeved shirts over suits. It is also planning to freeze cooking gas prices until May and encouraging consumers to use alternative energy.

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Other parts of Asia, like Bangladesh, have given the Eid al-Fitr holiday, allowing the universities and schools to close early in an attempt to save fuel. Pakistan has also instituted a four-day workweek for government offices and closed schools. India has suspended shipments of LPG to commercial operators and has prioritised supplies for households.

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