The aftermath of the Hormuz blockade, a ‘fuel crisis’ that shook Asia’s daily life.
The BBC reported that the Strait of Hormuz is virtually blocked due to the war between the United States, Israel, and Iran, and fuel and gas shortages are becoming a reality throughout Asia. Given that approximately 90% of the oil and gas passing through the strait is destined for Asia, each country is increasing austerity measures such as work-from-home orders, designated holidays, and fuel rationing.
Published
March 25, 2026
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Original text: https://www.bbc.com/news/articles/c1450zj6n48o
Strait of Hormuz “virtually blocked”: Why Asia is shaking even more
The BBC reported that the Strait of Hormuz has been effectively closed since the war began in late February, causing a shock to the global economy. According to the article, about 20% of the world's oil passes through this strait, which is currently described as only ‘a handful of ships’ per day.
Asia is said to be structurally more sensitive. The BBC explained that nearly 90% of the oil and gas passing through the strait is headed to Asian countries, and that prices were rising further due to attacks on energy infrastructure. In other words, even if the war is thousands of kilometers away, the impact of the cost of living appears to be felt immediately.
Government austerity measures: working from home, holidays, early school breaks
Several governments have reportedly ordered public sectors to work from home, shortened the work week or established national holidays to save fuel. It was reported that in some regions, early closure of universities was even discussed.
China was no exception. The BBC reported that China is known to have a stockpile equivalent to three months' worth of imports, but as its citizens experience a 20% surge in fuel prices, the authorities are making adjustments, such as limiting the amount of price increases. This is read as a signal that the ‘price shock’ will be passed on even if there are stockpiles and policy buffers.
Philippines: ‘Jeepney’ drivers’ income collapse and strike
In the Philippines, transportation livelihoods were said to have been directly affected. The BBC reported the case of jeepney (public transportation) driver Carlos Bragal Jr., and reported that his daily wage for 12 hours of work fell from 1,000 to 1,200 pesos to 200 to 500 pesos.
He complained that the fuel subsidy was only “two days’ worth of driving,” and reportedly said that “the situation is worse than during the pandemic.” The article also includes photos of strikes and demonstrations protesting the surge in fuel prices, showing how economic pressures are leading to social tensions.
Thailand: Broadcast anchor ‘takes off jacket’ and air-conditioning temperature is 26-27 degrees
In Thailand, an energy saving campaign was carried out symbolically. Anchors on public broadcaster Thai PBS took off their jackets on air to convey the message of "saving energy amid the fuel crisis," and anchor Sirima Songklin said small actions reveal the impact of conflict in the Middle East, the BBC reported.
Government guidelines are also specific. The BBC reported that it was recommended to maintain indoor air conditioning at 26-27 degrees and that all government agencies were instructed to work from home. At the same time, it is said that a reassuring message from the authorities was also sent, saying, “There will be sufficient energy,” which seems to emphasize communication aimed at suppressing anxiety.
Sri Lanka and Myanmar: Rationing, vehicle odd-even system, and the ‘cost of time’
The BBC reported that Sri Lanka experienced a fuel shortage right after the foreign exchange crisis in the past, making the irony of this crisis even greater. A citizen of the capital Colombo said, “Before, I couldn’t buy anything because I didn’t have money, and now I have money but no fuel,” and the government is said to have designated a public holiday and introduced fuel rationing on Wednesday.
In Myanmar, it is said that they are trying to save fuel by applying the ‘alternate day’ system to private vehicles. One bank employee said that he commutes by public transportation and meets with friends on “even and odd days,” adding that he was concerned about a black market in fuel. Fuel shortage is not a simple price issue, but appears to be a variable that changes people's time, movement, and relationships.
India: Dependency on LPG, industry shutdown, ‘restaurants at a standstill’ in city of 22 million
The BBC reported that India is one of the countries greatly affected by the Hormuz blockade. According to reports, India imports about 60% of its LPG, of which about 90% passes through the Strait of Hormuz. Because of this structure, both households and businesses are described as experiencing fuel and gas shortages at the same time.
In the state of Gujarat, gas shortages have brought the pottery industry to a standstill for “nearly a month,” leaving 400,000 workers in the industry in limbo, according to reports. In Mumbai (a city with a population of 22 million+), up to one-fifth of hotels and restaurants were completely or partially closed in the first few weeks of March, and the disappearance of menus with long cooking times illustrates the transformation of daily life.
In the future, key follow-up issues appear to be (1) when passage through the strait will normalize at the ‘number of ships per day’ level, (2) whether additional attacks on energy infrastructure will occur, and (3) what burden each country’s subsidies and price controls will leave on finances and prices. Even from the perspective of taking a leveraged position focusing on growth stocks such as PLTR and TSLA, it is felt to the extent that a surge in energy prices can shake interest rate expectations and risk preference at the same time. In the end, we continue to see that this crisis is not ‘news from the battlefield’ but is being translated into the operating rates of Asia’s commutes to work, restaurants, and factories.
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