Asian nations are feeling the impact of the US-Israel-Iran conflict,\nwhich has driven global crude oil prices above $100 per barrel.<\/p>\n
In India, authorities stated that fuel prices will remain unchanged\nfor now, as the government relies on diverse supply sources and\nstrategic reserves. Indian officials noted that the country has\naccumulated sufficient crude oil and commercial stock reserves to cover\napproximately 50 to 74 days of consumption, providing a buffer against\nsupply disruptions.<\/p>\n
China, the world\u2019s largest oil importer, is carefully monitoring\ndevelopments. According to the Atlantic Council, Beijing has built up\ncrude oil reserves and maintains larger domestic oil production than\nmany East Asian economies, providing protection if Middle Eastern\nsupplies are disrupted.<\/p>\n
In Australia, the government has urged citizens not to purchase\nexcessively, amid reports that farmers are hoarding diesel. Australia\u2019s\nMinister for Industry, Energy and Emissions Reduction Chris Bowen stated\nthat the country maintains strong reserves. \u201cFundamentally it\u2019s good\nbecause Australia has good supply,\u201d Bowen said.<\/p>\n
Across Asia, several governments have already implemented emergency\nmeasures. In Pakistan, Prime Minister Shehbaz Sharif is preparing an\nausterity plan involving distance learning and remote work arrangements,\nfollowing local authorities\u2019 announcement of a 55 rupee (Rp3,317) per\nlitre petrol price increase, the highest on record.<\/p>\n
Bangladesh has ordered the temporary closure of educational\ninstitutions nationwide to conserve electricity and fuel. Local\nofficials stated this measure can reduce electricity consumption and\ntransportation energy usage.<\/p>\n
In Malaysia, Prime Minister Anwar Ibrahim said the government will\nendeavour to keep petrol prices at 1.99 ringgit (Rp8,511) per litre. \u201cWe\nwill do our best to ensure the RON95 price remains at 1.99 ringgit so\nthe people are not burdened,\u201d Ibrahim said, according to Bernama news\nagency.<\/p>\n
Separately, industry experts in Sri Lanka have warned that higher\nshipping costs and currency depreciation could drive food prices up by\n5-10 per cent in the coming months, according to the Daily Mirror\nnewspaper.<\/p>\n
In Taiwan, Head of Economic Affairs Kung Ming-hsin stated that the\nshort-term impact of the Middle East conflict on liquefied natural gas\nsupplies is estimated to be minimal. Kung noted that 20 LNG shipments\nhave been arranged for March and April, according to the Central News\nAgency.<\/p>\n
South Korean President Lee Jae-myung on Monday called on local\nauthorities to implement fuel price controls immediately to address gas\nprice surges and volatility in the foreign exchange market. The\ninstruction was issued as South Korea\u2019s currency fell to a 17-year low\nagainst the US dollar on Monday, amid market volatility and rising oil\nprices, closing at 1,495.5 won per dollar, the weakest level since March\n2009.<\/p>\n
In Japan, the Nikkei index ended down more than 2,800 points, marking\nthe third-largest single-day decline in its history, as investors\nreacted to rising energy costs and geopolitical uncertainty in the\nMiddle East.<\/p>\n
Regional tensions have escalated since the US and Israel launched\nlarge-scale strikes against Iran on 28 February, killing more than 1,250\npeople, including Supreme Leader Ayatollah Ali Khamenei, over 150\nschoolgirls, and senior military officials.<\/p>\n
Iran responded to US-Israeli aggression with large-scale attacks\ntargeting US military bases, diplomatic facilities, and military\npersonnel throughout the region, as well as several Israeli cities. At\nleast six US military personnel have been killed.<\/p>\n
Ten Asian nationals\u2014three from Bangladesh and Pakistan each, two from\nIndia, and one each from China and Nepal\u2014have reportedly been killed in\nthe Middle East amid the ongoing conflict.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/asian-nations-prepare-emergency-measures-amid-middle-east-conflict-1773071597", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }