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:INDIAIndia, 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.
GERMANYGermany's Finance Minister is examining ways to relieve consumers from rising fuel prices, including introducing a windfall tax on oil companies.
SOUTH KOREASouth 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.
CHINAChina 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.
AUSTRALIAPrime 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.
JAPANJapan has asked Australia, its biggest supplier of liquefied natural gas, to boost output.
EUROPEAN UNIONThe 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.
ITALYItaly has set aside some 417.4 million euros ($478 million) to cut excise duties on fuels until April 7, a decree approved by the cabinet showed.
CAMBODIACambodia is importing more fuel from suppliers in Singapore and Malaysia to make up for supply shortfalls from Vietnam and China.
MALAYSIAMalaysia will raise spending on petrol subsidies to 2 billion ringgit ($510 million) from 700 million ringgit to maintain the fixed price of the fuel.
THAILANDThailand 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 ($1.02) per litre. The Thai Planning Agency said the government will freeze prices of some goods and provide support for farmers.
The PHILIPPINESThe Philippines said it plans to curb power bills as LNG prices surge by boosting coal-fired power generation and regulating electricity tariffs.
BRAZILBrazil's President Luiz Inacio Lula da Silva signed a decree to eliminate federal taxes on diesel.
EGYPTEgypt has capped the price of unsubsidised bread sold in private bakeries.ETHIOPIAEthiopia has increased fuel subsidies. — Reuters
Oman Observer is now on the WhatsApp channel. Click here
