KUALA LUMPUR, March 20 — Governments worldwide are trying to shield consumers from soaring energy costs resulting from the US-Israeli war on Iran.
Here’s how different countries are responding:
India
India, the world’s fourth-largest refiner, will review its fuel exports if needed to ensure availability in the local markets, a government official said.
India is assessing fuel-supply requests from its neighbours and will approve exports only if it has surplus volumes, the foreign ministry said on Wednesday.
The country has barred consumers with piped natural gas from retaining, obtaining or refilling domestic liquefied petroleum gas cylinders.
It has invoked emergency powers and directed refiners to maximise production of LPG, widely used for cooking. It cut sales to industry to avoid a shortage for 333 million homes with LPG connections.
Germany
Germany’s Finance Minister is examining ways to relieve consumers from rising fuel prices, including introducing a windfall tax on oil companies.
South Korea
South Korea is easing limits on coal-fired power generation capacity and raising nuclear power plant utilisation to as high as 80 per cent.
It is considering additional energy vouchers to support vulnerable households.
China
China has banned refined fuel exports to pre-empt a potential domestic fuel shortage, four sources said.
It is also releasing fertiliser supplies from national commercial reserves ahead of spring planting.
Australia
Prime Minister Anthony Albanese urged Australians to avoid panic buying of petrol and diesel, which he said had led to shortages in some rural regions.
The government last week announced it would release petrol and diesel from domestic reserves to ease supply-chain disruptions linked to shortages in rural areas.
Japan
Japan has asked Australia, its biggest supplier of liquefied natural gas, to boost output.
European Union
The European Commission, the EU executive, is instructing governments to be flexible when enforcing EU rules on gas imports, given concerns that strict compliance could delay LNG deliveries needed to stabilise supplies.
Italy
Italy has set aside some €417.4 million (RM1.8 billion) to cut excise duties on fuels until April 7, a decree approved by the cabinet showed.
Cambodia
Cambodia is importing more fuel from suppliers in Singapore and Malaysia to make up for supply shortfalls from Vietnam and China.
Malaysia
Malaysia will raise spending on petrol subsidies to RM2 billion ringgit from RM700 million to maintain the fixed price of the fuel.
Thailand
Thailand is considering cuts to its oil tax, its finance minister said.
Thailand has discussed with the Russian government the possibility of purchasing crude oil, a deputy prime minister said on Tuesday. The minister also said the government would try to cap domestic diesel prices at 33 baht (RM4.02) per litre.
The Thai Planning Agency said the government will freeze prices of some goods and provide support for farmers.
Philippines
The Philippines said it plans to curb power bills as LNG prices surge by boosting coal-fired power generation and regulating electricity tariffs.
Brazil
Brazil’s President Luiz Inacio Lula da Silva signed a decree to eliminate federal taxes on diesel.
Egypt
Egypt has capped the price of unsubsidised bread sold in private bakeries.
Ethiopia
Ethiopia has increased fuel subsidies. — Reuters
