How nations are tackling high oil prices

Right now, oil is sitting at around $107 a barrel. Before the conflict, prices were mostly between $67 and $73 per barrel. On top of that, the supply chain has taken a hit. Attacks on oil facilities in the Middle East and the partial shutdown of the Strait of Hormuz have led to supply shortages for many countries. Here’s how some nations are trying to deal with these challenges. Shorter workweeks: Countries like the Philippines and Pakistan are rolling out a four-day work week. Remote work: Malaysia, Thailand, Egypt, and Indonesia are encouraging employees to work from home to cut down on fuel usage. Fuel rationing: Myanmar is implementing a system where cars with even-numbered plates can only drive on even days, and odd-numbered plates on odd days. Tax cuts and subsidies: European countries like Greece, France, Ireland, and Italy are putting significant funds toward subsidizing fuel for various industries. Italy is slashing excise duties by €417.4 million while Spain is thinking about reducing fuel and electricity taxes. Free or subsidized transport: Australia is offering free public transport to residents. The Philippines is also supporting transport services with government subsidies. Welfare support: In the UK, low-income families using heating oil can access a £53 million assistance package. Banning oil exports: The Chinese government has instructed oil refineries to halt exports to other nations in order to keep domestic supplies steady.

Here in Philippines, Our government give cash assistance to all the PUV and PUJ to help them on buying fuel at higher price and that’s all.  We have the most corrupt government in the history so there’s no funds left for the country for this oil crisis rather than ask for another loan that will be subject again for corruption. Some politicians to cut the work hours to save energy but nothing was already implemented even the Department of Energy secretary is very incompetent on handling the crisis saying we have enough oil reserves while the price here already double during the first week only of US-Iran conflict.

Sad Reality is that none of this measures can actually last more than 90 days of this war, funny thing is that the country at heart of this war have repeatedly said that they oil to actually sustain them and even sell off to other countries, and this usually lead me to the question? Isn’t this war a calculated orchestration by Trump? That aside I think some countries which has less corrupt government have measures properly put aside like subsidizing many things for its citizens but others this is another great opportunity for them to actually loot more money than ever, I tell you that most countries will now be running to take loans but those loans will definitely not  be used for anything meaningful but been looted by them again. Sadly this will be the faith of my country

This is true but it only applies to the government workers. But for the private sector, they're still the same and they are free to adjust or not their working days. The first step that our government did was giving $100 worth of subsidies directly to the transport sector, to the drivers. But, most of it are known that they'll not spend it on the fuel. So despite with that help, it's just a one thing help done and we're on our own again. Much better if the government subsidizes it directly to the fuel companies so that every driver and commuter that fuels up will have that discount.

Even countries not directly involved are feeling the impact of world leaders selfish attitudes. In some nations heavily dependent on oil, the effects are clearly felt, and they may have to switch to electric vehicles. Or perhaps we need to return to a time when walking was the way to get healthy again. If I’m not mistaken, in the Philippines or Thailand, workers have decided to walk considerable distances. In my own country, so far oil prices have remained stable, and the government has urged the public to stay calm because oil supplies are secure since we produce our own. However, imports through the Strait of Hormuz still play a role because domestic production is insufficient.

The only solution to this oil crisis to stop, when ever big players in the world oil and gas sector have crisis like this is so countries to have their oil refined in their homeland, especially the countries which are oil producers. Because if a country can produce their oil by themselves I don't think that the effects will be much stronger like this. Even though the raw oil will be imported it will be better to refine locally. But for a good government to deal with the issue of this oil shortage due to the blockage of the strait of Hormuz some times ago, is for government to introduce subsides on transportation to their citizens. Government should pay half of the transportation cost to reduce the effects of the rise in the price of petroleum products.

It seems like this is going to get worse before it gets better. Trump is doing even more damage, literally and figuratively, every single day because the war doesn't seem to have an aim. Iran are not going to back down, because they have only grown stronger through this bullying. They have formidable natural defenses in their country and are way larger than any other enemy that America has tried to take on. Frankly Israel and America are the ones acting barbaric right now, with Israel taking the opportunity to steal ever more land in Lebanon. The rest of the world is fed up with Trump's bullshit right now and he has left America stranded through sheer stupidity. Other countries are going to work much more with Iran now and frankly it's nice to see Israel get a taste of their own medicine with missile attacks.

Good list OP, I have heard some reports on the news but not all so its interesting to know what other countries are doing. Here in Ireland we have had an excise duty cut of €0.20c per litre of diesel and petrol. Last week the price per litre was average €2.28c per diesel, today I topped up my car with diesel for $2.06 per litre. Its interesting to see that driving habits in my area have not changed, most people are driving as if there is no extra cost to them. The bottom line is the faster to travel the more fuel you need! I wonder do people realise this at all?

I'm just on Al Jazeera TikTok handle and I saw a video of posted 40 minutes ago of Iran attacking Isreal with a projectile strike, https://vt.tiktok.com/ZSHrDKptf ; With this damages on Israel, I'm not sure this conflict will end soon. I saw another video in the morning when Donald Trump was analyzing how long it took some of the past world War 1, I knew these guy wouldn't leave middle east until he wins, it's now looking like "I will not let the world ridicule me that I let them get away", this is not looking good. In my country, the bereau of stats made gave their weekly information that some fuel stations that are selling 10kL per day on average now sell 1000L per day and some are even below. That means fuel consumption has reduced drastically, the price isn't affordable and everyone has pack their car. You hardly see much cars on the road, and more of commercial vehicles taking people from one place to another, this lifestyle isn't affordable.

I am envious about those countries especially those offering free or subsided transportation because most things are transported from one place to the other that's why during high oil price the price of many commodities and goods goes up and the hardship gets tougher so free transportation or subsided transportation can actually maintain a reasonable balance. Nothing much is happening in my country, the government has admitted that this will cause pain to the country which is already happening but they haven't done what other countries are doing to alleviate the suffering to a good extent.

Honestly speaking this global problem is all over and it reaches everywhere, even those people they didn't fight do experience it too. This oil crisis show how countries needs each other to survive and it's beyond what we think. This kind of situation quickly reminds us that we shouldn't  focus our hope on one particular source because it might fail us one day, be it in our daily lives, transportation or energy, the countries that spreads their economy and resources across in different areas will global crisis that much when tension tends to raise or rises

I thought my country is the only place that this increase of oil price is happening, I never knew it is a general problem. Well, I must say that the high oil price is really affecting people over here and the worst part is that the more it is increasing that's the more the cost transportation is also increasing, places that you will spend 15,00N now we are spending x2 of that amount. This has made alot of people not to think about traveling because that money they will use to pay for their transport could get them food stuffs that will last for like 1-2 weeks. I actually thought the country will get better some day but it is becoming worst.

It's now a problem of several countries and we're all problematic about the increase. If the Strait of Hormuz is not open for so long, too many economies will die. And this will cause more anger to Iran by the global standards. And that's why if they're not going to open it for free economy, and they'll continue to ask for the amount of $2M for passing through, they're creating more enemies through that. Enough is enough IMO and they've caused so much already to many countries and the civilians that don't even care on this war.

I’m not sure if what the Philippines is doing is effective, especially when it comes to providing fuel subsidies to drivers such as delivery riders, tricycle drivers, taxi drivers, and other public drivers. Instead of the subsidy reaching the people who actually need it, I think there’s a real possibility that some of it is being misused or pocketed by certain individuals in the government. It’s the middle class that often ends up suffering the most, since they receive little to no support. Also, the idea of reducing the workweek to four days doesn’t seem like good solution. While it may help save on fuel, it could also have negative effects on the economy here in the Philippines.

In those countries mentioned here, we have good countries among others that their government can maintain the policy they gave to her people in order for them not to undergo hardship because of the crisis....But it's only a country that have a corrupt mindset or agenda that would not stick to the promise they made to her nation citizens, most of the countries listed by op, will maintain the policy they innate until the crisis is over, saying it will not last more than 90 days, it's a speech of under probabilities, because you don't know if it will come to pass or not.

My country is still under development with improper regulatory orders in the oil sector that makes price of living miserable for the common citizens. In time of oil price increments like this, the only thing my government does is to increase price of petroleum which also erupts to inflation and so on cost of living becomes very high. Without being regulated, there's also less number of cars on the ways because those who owns private mobilities who can't afford to buy the petrol at a given high price have to park their cars at home and prefers to use the public mobilities to cut costs of transportations meaning there's usually less number of cars on the ways when oil oil prices ia hiked.

Instead of working 8 hours a day for 5 days a week, working 10 hours a day for 4 days a week might actually be a good idea. It might be a bit tiring, but it would save money in the end. Türkiye implemented a tax reduction, and fuel prices have stayed relatively stable, but we can’t keep this up for long. Damn it. Russia is our neighbor, but we don’t have natural gas. The Arabs are our neighbors, but we don’t have oil. Europe is our neighbor, but we’re not in the European Union. :) The problem is that this isn’t something that can be solved with simple solutions. Maybe we can delay some issues from coming to light for a bit, but we can’t develop an effective solution for any of them.

I am afraid if most of the exporters stop doing it in securing their stocks. Because they'll have to put first the priority and lives of their people and I wonder if those with so much supply of oil will step up and will help to cover the supply crisis globally. There are countries that have enough for the rest of their lives and if this crisis continues to exist and more and more exporters will halt their exportation of oil to their trade partners. It will cause more damage to the economy and more than what we're experiencing right now.

Indonesia is not too affected by the Iran US Israel conflict, oil reserves are maintained as usual for 20-23 days, my country's oil storage capacity is limited. There is no information regarding energy emergencies before or even after the Eid al Fitr holiday,  government also has no plans to reduce fuel subsidies. To save fuel consumption, the government plans to implement work from home for state civil servants. Seems my government quite confidence to get oil supply from Nigeria and Angola with competitive price. Beside that Indonesia state owned energy company also already developing diverse bio energy such as biodiesel by utilizing palm oil innovation and biomass produces from palm kernel shell and empty fruit bunches. Energy issues also accelerate the transition from oilbased motor vehicles to electric motor vehicles. https://iesr.or.id/en/indonesia-must-anticipating-the-energy-crisis-by-effective-and-sustainable-programs/

This is a brilliant research you've made and I like the way you were able to outline the various subsidies different governments of different nation have been doing for their people. When a government is responsive to the plight of their people this is what they do to cushion the effect of the harsh economic reality some persons are facing and I commend them for that. However this war has shown how vulnerable the world is, just a little friction and every economy is at standstill or facing energy challenges of different level.