Amid the West Asia war, and the subsequent ‘fuel crisis' that has emerged, Vietnam, along with some other Southeast Asian countries, have taken austerity measures to curb fuel consumption, as per a report by News Straits Times (NST).
The Ministry of Industry and Trade in Vietnam has asked businesses in the country to encourage their employees to work from home. The move has been made to counter rising fuel prices and an acute shortage of fuel, dependent on the Gulf region for its oil supplies.
The crisis has taken shape after Iran announced the closure of the Strait of Hormuz, a maritime chokepoint responsible for the transportation of one-fifth of the world's crude oil. Iran closed the waterway soon after Israel and the United States started bombing Tehran on Feb. 28.
Iranian authorities have threatened attacks on vessels that try to pass the Strait, even as US President Trump has said he will make the Navy escort vessels through the waterway.
Also Read: India Sourcing Crude Oil From 40 Countries Amid Hormuz Row, Say Govt Sources; Deny LPG Crisis
The report by NST said that there were long lines of cars and motorbikes in the capital city of Hanoi, in Vietnam, as people rushed to fill up their vehicles. The country relies heavily on imports from West Asia for its oil supplies, hence affected heavily.
The Ministry of Industry and Trade, on Tuesday, issued a statement highlighting the importance of reducing the need for travel and transportation. “Businesses need to encourage work-from-home when possible to reduce the need for travel and transportation,” the statement said.
There has been a sharp increase in fuel prices in Vietnam. Petrol prices have risen by 32%, diesel by 56%, and Kerosene by 80%, since the war began in the Persian Gulf, as per the data by the country's top fuel trader, Petrolimex, the NST said.
The ministry has also urged the general public as well as businesses not to hoard fuel, given it will have a negative impact on supplies.
Vietnamese Prime Minister Pham Minh Minh has taken further steps to avert a crisis and has made phone calls to his counterparts in Kuwait, Qatar, and the UAE on Monday, urging them to secure fuel and crude oil supplies. The country has also decided to remove import tariffs on fuels, for the time being. The measure will stay in place till end of April.
Bloomberg report has suggested that the government in Thailand has also approved work-from-home arrangements for most government agencies in a bid to reduce fuel consumption, apart from implementing a four-day work week for public offices.
Danucha Pichayanan, secretary-general of the National Economic and Social Development Council, said the decision was part of emergency measures to tackle energy demand risks.
Pakistan is among other countries that have brought in austerity measures, like work-from-home and online classes for educational institutions to tackle the fuel shortage.
Also Read: India Sourcing Crude Oil From 40 Countries Amid Hormuz Row, Say Govt Sources; Deny LPG Crisis
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