Asian Governments Move to Shield Economies From Gulf Oil Shock

Asian oil shock response measures are being introduced as governments attempt to limit the impact of Middle East conflict on fuel supplies and prices.

South Korea plans to impose a domestic fuel price cap for the first time in nearly three decades, while Myanmar has begun rationing fuel for private vehicles following supply disruptions.

The Strait of Hormuz, a key route for about one‑fifth of global oil and LNG shipments, has experienced severe disruption.

Policymakers say the Asian oil shock response could include stockpile releases, tariff cuts, export restrictions and price controls to stabilise domestic markets.