Chinese included, Asians rushing to petrol station as oil prices surge amid Iran war, Hormuz stalled

Описание: A massive wave of fuel price hikes is sweeping across Asia, triggered by escalating Middle East conflicts and a global surge in crude prices. From Shanghai to Seoul and Manila, motorists are racing to gas stations to beat the sharpest price increases in years; in China, filling a 50-liter tank with Grade 92 gasoline now costs an additional 27.5 yuan ($3.80). While some drivers, like those in Beijing, express a reluctant loyalty to gas-powered cars despite the costs, students in the Philippines and businessmen in South Korea admit the spike is "hurting the pocket" and forcing a shift toward more frugal commuting habits.

In response to the crisis, regional governments are implementing drastic measures to maintain stability. Pakistan’s Prime Minister Shehbaz Sharif has unveiled austerity plans, including a four-day work week and temporary school closures to conserve fuel, alongside salary deductions for high-ranking officials to fund public relief. As the G7 fails to reach an agreement on releasing strategic reserves, China has reaffirmed its commitment to protecting energy security, calling on all global parties to ensure a stable and unimpeded energy supply amid the ongoing market turmoil.
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